Petrol and diesel prices will drop by between 50c and 65c from Tuesday midnight, the Department of Mineral and Petroleum Resources announced on Monday.
Paraffin will also decrease, while LP Gas consumers will be hit with increases. The following price adjustments will apply from midnight on Tuesday:
- Petrol 93 (ULP and LRP): 65c decrease;
- Petrol 95 (ULP and LRP): 65c decrease;
- Diesel (0.05% sulphur): 50c decrease;
- Diesel (0.005% sulphur): 57c decrease;
- Illuminating Paraffin (wholesale): 53c decrease;
- Single Maximum National Retail Price for Illuminating Paraffin: 70c decrease; and
- Maximum Retail Price of LP Gas: 31c increase (with a 36c increase in the Western Cape).
Rand strengthens against dollar
“The average international product prices decreased due to availability of inventories, despite an increase in crude oil prices,” the department said.
“These factors led to lower contributions to the basic fuel prices of petrol, diesel and illuminating paraffin by 36c/l [cents per litre], 24.59c/l, and 21.13 c/l, respectively.
“The prices of propane and butane increased during the period under review due to the cold weather in the Northern Hemisphere and tighter global supply.”
The rand also strengthened against the US dollar, gaining ground from R16.85 to R16.31 per dollar during the period under review.
“This led to lower contributions to the basic fuel prices of petrol, diesel and illuminating paraffin by 28.52 c/l, 31.62 c/l, and 31.86 c/l, respectively,” the department explained. – SAnews.gov.za
