Relief for motorists as fuel price drops
The drop in the fuel price is a result of the strengthening of the Rand against the US Dollar and a decrease in the prices of crude oil.
MOTORISTS will get some reprieve at the fuel pumps from Wednesday following an announcement by the Department of Energy of the drop in fuel prices.
As of 7 March, the petrol price will drop by 36 cents a litre and between 44 and 47 cents less for a litre of diesel.
According to the Energy Department, the drop in the fuel price is a result of the strengthening of the Rand against the US Dollar and a decrease in the prices of crude oil.
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“The Rand appreciated, on average, against the US Dollar from 12.20 to 11.82 Rand per USD during the period under review. The average Brent Crude oil price decreased from 69.06USD to 65.05USD per barrel during the period under review. This led to lower prices of petroleum products in the international markets,” said the department.
The department said other factors that influence the price of fuel include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including shipping costs.
The fuel prices for paraffin and gas will be also adjusted.
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