Petrol price set to decrease

The Department of Energy said all petroleum products prices will decrease with effect from 2 September.

“The decrease in the prices of all the petroleum products is due mainly to the continued drop in the crude oil prices during the period under review,” the department said.

The department said the fuel prices would be adjusted as follows:

• Petrol (Both 93 and 95) will decrease by 69c/litre
• Diesel (0.05% Sulphur) will decrease by 54c/ litre
• Diesel (0.005% Sulphur) will decrease by 51c/ litre
• Illuminating paraffin (SMNRP) will decrease by 55c/litre
• Illuminating paraffin (wholesale) will decrease by 74c/litre
• Liquefied Petroleum Gas (LPG) will decrease by 115c/kilogram.

The Minister of Energy Tina Joematt-Pettersson has approved an increase in the retail margin of petrol of 4.6c/litre to cater for the salary increase of 9% for pump attendants and cashiers in line with the Motor Industry Bargaining Council (MIBCO) agreement of September 2013.