Fuel price adjustments to bring some relief
The fuel price adjustments were announced by the Department of Mineral and Petroleum Resources on Monday, September 30.
Starting from Wednesday, October 2, motorists will experience some relief at the pumps as it has been announced that the prices of all grades of petrol and diesel are set to decrease.
According to sanews.gov.za, illuminating paraffin is also expected to decrease, with the only price rise coming in the cost of LP Gas.
The fuel price adjustments were announced by the Department of Mineral and Petroleum Resources on Monday, September 30.
According to the statement, the price adjustments for fuel, paraffin and gas are as follows:
• Petrol 93 (ULP & LRP): R1.06 decrease
• Petrol 95 (ULP & LRP): R1.14 decrease
• Diesel (0.05% sulphur): R1.14 decrease
• Diesel (0.005% sulphur): R1.12 decrease
• Illuminating Paraffin (wholesale): R1.11 decrease
• Single maximum national retail price for illuminating paraffin: R1.48 decrease
• Maximum LP Gas retail price: 23c increase.
A litre of 95 petrol, which currently costs R22.19 in Gauteng, will cost R21.05 as of Wednesday. On the coast, a litre of 95 petrol, which cost R21.40 in September, will now cost R20.26 a litre.
The department explained the international and local factors leading to the price adjustments for October. “The average Brent Crude oil price decreased from 78.54 USD to 72.82 USD per barrel, during the period under review. The main contributing factor is the increased production from major oil-producing countries, despite lower demand concerns.
“The average international petroleum product prices decreased on average, in line with the lower oil prices, during the period under review. This led to lower contributions to the Basic Fuel Prices of petrol by 91.74c/l and 85.04c/l, diesel by 91.37c/l and 88.72c/l and illuminating paraffin by 87.64c/l, respectively.
“The Rand appreciated on average, against the dollar, from R18.05 to R17.68 per USD, during the period under review. This led to lower contributions to the Basic Fuel Prices of all products by over 21.00 cents per litre,” the department said.
Source: sanews.gov.za
