Another fuel price decrease welcomed
Fifth consecutive decrease signals relief for both business and consumers
The South African Petroleum Retailers Association (SAPRA) announced that South African consumers and businesses will benefit from yet another decrease in fuel prices. The Department of Mineral Resources and Energy has confirmed a significant reduction in the prices of petrol and diesel, effective from Wednesday, 2 October 2024.
Henry van der Merwe, Chairman of SAPRA, noted, “This marks the fifth consecutive fuel price decrease, which is a highly positive development for our economy, especially in these challenging times as we approach the last quarter of the year. The relief at the pumps will provide much-needed breathing room for both businesses and individual consumers, particularly following the recent interest rate decreases.”
Fuel Price Adjustments for October 2024:
- Petrol 93 ULP & LRP: 106.00 cents per litre decrease
- Petrol 95 ULP & LRP: 114.00 cents per litre decrease
- Diesel 0,05% Sulphur: 114.00 cents per litre decrease
- Diesel 0,005% Sulphur: 112.00 cents per litre decrease
- Illuminating Paraffin:
o Wholesale price: 111.00 cents per litre decrease
o Single Maximum National Retail Price (SMNRP): 148.00 cents per litre decrease
- LPG: 23.00 cents per kilogram increase in the maximum retail price
Consumers will be the big winners with petrol and diesel prices dropping by over 100 cents per litre. They will experience significant savings when filling up their vehicles. “We should also start to see these reductions translating into lower transport fares, benefitting those using taxis, buses, or other forms of public transport,” Van der Merwe said.
