The Department of Mineral and Petroleum Resources has announced an adjustment to fuel prices based on current local and international factors, with effect from Wednesday.
According to the department, international factors include the fact that South Africa imports both crude oil and finished products at prices set at the international level, including importation costs, e.g. shipping costs.
“The main reasons for the fuel price adjustments are due to the signing of the Memorandum of Understanding (MOU) between the US and Iran, which has improved the global supply outlook,” said the department’s Head of Communications, Lerato Ntsoko.
Ntsoko also highlighted other factors such as international petroleum product prices, the Rand/US Dollar exchange rate, and the implementation of the slate levy, among others.
“Petrol 93 unleaded will decrease by R2.01 a litre, and 95 unleaded by R1.96.
Diesel will see a decrease of R3.14 and R3.59 per litre.
Illuminating paraffin will fall by R6.97 a litre, and the maximum retail price of LPG will increase by 16c per kilogram,” explained Ntsoko.
Following the adjustment, a litre of 95 petrol, which currently costs R28.06 in Gauteng, will now cost R26.10 from Wednesday.
At the coast, the price will come down from R27.19 to R25.23 a litre.
Meanwhile, Ntsoko highlighted that in line with the announcement by the Minister of Finance, Enoch Godongwana, the short-term fuel levy relief has been phased out, effective from Wednesday.
