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Good news for SA motorists

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Good news for SA's motorists as both grades of petrol are set to decrease on Wednesday.

The department said that both local and international factors - such as the rand/dollar exchange rate - affect the price of fuel. 

 

 

 

The Department of Mineral Resources and Energy announced on Tuesday that November's fuel prices will be adjusted as follows:

  • Petrol (both 93 ULP and LRP) will decrease by 27c per litre;
  • Petrol (both 95 ULP and LRP) will go down by 27c per  litre;
  • Diesel (0.05% sulphur) will decrease by 12c per litre;
  • Diesel (0.005% sulphur) will drop by 11c per litre;
  • The price of illuminating paraffin (wholesale) will increase by 15c per litre;
  • The single maximum national retail price (SMNRP) for illumination paraffin will go up by 20c per litre, and
  • The maximum retail price of liquid petroleum gas (LPGas) will increase by 26c per kg.

“International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs, for example, shipping costs. 

“The rand appreciated slightly, on average, against the US dollar during the period under review when compared to the previous one,” the department said, adding that this led to lower contributions to the basic fuel prices of petrol, diesel and illuminating paraffin.

Meanwhile, during the current fuel price review, the average Brent Crude oil price decreased slightly.

“There is an oversupply of crude oil globally and the renewed lockdown measures across Europe exacerbate the situation,” the department said.

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