Double-digit decreases in fuel prices will provide fleet and private vehicle owners with relief at the pumps.
The Department of Mineral and Petroleum Resources (DMPR) announced significant decreases in the price of petrol, diesel and LP Gas effective from today.
The following price adjustments will apply:
Petrol 93 (ULP & LRP): 51-cent decrease.
Petrol 95 (ULP & LRP): 51-cent decrease.
Diesel (0.05% sulphur): 21-cent decrease.
Diesel (0.005% sulphur): 19-cent decrease.
Illuminating Paraffin (wholesale): 1 cent decrease.
Single Maximum National Retail Price for Illuminating Paraffin: 1 cent decrease.
Maximum Retail Price of LP Gas: 61-cent decrease and 70-cent decrease in the Western Cape
As of today, a litre of Petrol 95 (ULP & LRP) will cost R21.12 in Gauteng, while at the coast it will now cost R20.29.
“The average Brent crude oil price decreased from $67.16 to $64.14 during the period under review. The decrease in the price of crude oil is due to oversupply because of increased global production as well as uncertainty caused by continued trade tensions, which could affect economic growth and demand for crude oil,” the DMPR said.
“The average international prices of petrol and diesel followed the decreasing trend of crude oil prices. This led to lower contributions to the Basic Fuel Prices [BFP] of petrol by 39.94 cents per litre (c/l) and diesel by 8.83 c/l. On the other hand, illuminating paraffin prices increased and resulted in a higher contribution to BFP by 10.96 c/l. The prices of propane and butane decreased during the period under review,” the DMPR explained.
In addition, the rand appreciated slightly against the USD during the period under review.
“The rand appreciated on average, against the [USD], from R17.49 to R17.29 per USD during the period under review when compared to the previous one. This led to lower contributions to the Basic Fuel Prices of petrol by 10.60 c/l, diesel by 11.77 c/l and Illuminating paraffin by 11.53 c/l, respectively,” the DMPR said. – SAnews.gov.za
