The Department of Minerals and Petroleum Resources has announced a decrease in fuel prices for all grades, effective from Wednesday.
THE DEPARTMENT of Minerals and Petroleum Resources has announced a decrease in fuel prices for all grades, effective from Wednesday.
The new prices are as follows:
• Petrol 93 (ULP and LRP): 15 cents decrease
• Petrol 95 (ULP and LRP): 15 cents decrease
• Diesel (0.05% sulphur): 28 cents decrease
• Diesel (0.005% sulphur): 17 cents decrease
• Illuminating Paraffin (wholesale): 22 cents decrease
• Single Maximum National Retail Price for illuminating Paraffin: 29 cents decrease
• Maximum LP Gas Retail Price: 14 cents per kg decrease
This means that the price of 95 petrol in inland areas will drop from R23.26 to R23.11 per litre starting on Wednesday, while it will cost R22.32 on the coast.
The Gauteng wholesale diesel price will be R20.38 a litre from Wednesday and R19.59 on the coast.
In a statement on Monday, the department attributed the price adjustments to various international and local factors.
The average Brent Crude oil price rose from 82.24 USD to 83.55 USD per barrel during the review period. This increase was driven by a decline in US inventories, reduced production in Canada due to wildfires, tensions in the Middle East, and ongoing production cuts by OPEC, the department said.
While the average international product prices for petrol saw a slight increase due to higher summer demand in the Northern Hemisphere, diesel and illuminating paraffin prices decreased.
Additionally, the rand appreciated against the US dollar, moving from 18.44 to 18.23 rand per USD, which led to lower contributions to the Basic Fuel Prices of all products by about 14 cents per litre.
Source: SAnews.gov.za
