BAD news for SA’s motorists as Donald Trump says Iran ceasefire is OVER
· The South African
US President Donald Trump said on Wednesday the ceasefire with Iran was “over” following major exchanges of fire between US forces and the Islamic republic.
Trump blasted Iran as “scum” and “cuckoo” after Washington launched strikes on the Islamic Republic overnight and Iran’s Guards said they had targeted US bases in the Gulf.
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Oil prices jump
Oil prices jumped five percent after Trump’s remarks.
“I think it’s over. I don’t want to deal with them any more, they’re scum,” Donald Trump said at a NATO summit in the Turkish capital Ankara when asked if the truce with Iran was now finished.
“They’re scum, they’re sick people, they’re led by sick people, and they’re vicious, violent people. And if they had a nuclear weapon, they’d use it.
“As far as I’m concerned, it’s over.”
Donald Trump said he would speak to businessman-turned-negotiator Steve Witkoff and his son-in-law Jared Kushner, who have been dealing with the Iranians, but insisted it was up to Tehran to return to the table.
“As far as I’m concerned, it’s just a waste of time dealing with them. They’re liars.”
Trump accused the Iranians of repeatedly misrepresenting what had been agreed in the ceasefire that Washington and Tehran signed on June 17.
“Everyone’s agreed, no nuclear weapon. We make a deal. They go outside, joke to the press, they say we never even talked about it. There’s something wrong with them, they’re cuckoo,” Trump added.
Latest numbers
While the full extent of the fuel price jump will only be felt in the coming days, the fuel price outlook for August is worsening by the day.
Below, the latest projections for August 2026 as received by The South African website from the Central Energy Fund (CEF):
FUELPRICE CHANGEPetrol 93decrease of 190 centsPetrol 95decrease of 189 centsDiesel 0.05%decrease of 193 centsDiesel 0.005%decrease of 228 centsIlluminating Paraffindecrease of 222 centsIf the market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate fluctuating and the oil price ever changing – a decrease of 190 cents per litre is expected for petrol 93 octane motorists and a decrease of 189 cents as well for 95 users is anticipated.
Meanwhile, diesel motorists would see something between a 193 and 228 cents per litre decrease.
Finally, illuminating paraffin is expected to drop by 222 cents in price.
FUEL PRICE IN SOUTH AFRICA IMPACTED BY TWO MAIN FACTORS:
1. The international price of petroleum products, driven mainly by oil prices
2. The rand/dollar exchange rate used in the purchase of these products
Oil priceAt the time of publishing the brent crude oil price is $78.31 a barrel.
Exchange rateAt the time of publishing the rand/dollar exchange rate is R16.45/$.
The final overall price changes for both petrol and diesel will be confirmed later in the month with the new prices taking effect at midnight on Tuesday, 28 July or Tuesday, 4 August (TBC).