Fuel prices to decrease across South Africa from Wednesday
Motorists will feel some relief at the pumps this week as the Department of Mineral and Petroleum Resources (DMPR) announced a drop in the prices of petrol, diesel, illuminating paraffin and LP gas.
The Department of Mineral and Petroleum Resources (DMPR) has confirmed that South Africans will pay less for fuel this week.
From November 5, the prices of petrol, diesel, illuminating paraffin and LP gas will decrease following a reduction in global oil prices and a slightly stronger rand.
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The department announced the following adjustments:
• Petrol 93 (ULP & LRP): decrease of 51c per litre
• Petrol 95 (ULP & LRP): decrease of 51c per litre
• Diesel (0.05% sulphur): decrease of 21c per litre
• Diesel (0.005% sulphur): decrease of 19c per litre
• Illuminating paraffin (wholesale and single maximum national retail price): decrease of 1c per litre
• Maximum retail price of LP gas: decrease of 61c per kg, and 70c per kg in the Western Cape
Motorists in Gauteng will now pay R21.12 per litre for Petrol 95 (ULP & LRP), while coastal areas will pay R20.29 per litre.
According to the DMPR, the decline is largely due to lower international crude oil prices and a stronger rand.
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“The average Brent crude oil price decreased from US$67.16 to US$64.14 during the period under review.
“This is due to oversupply caused by increased global production and uncertainty from ongoing trade tensions that could affect global demand,” the department said.
The department noted that international prices of petrol and diesel followed the same downward trend, reducing their contribution to the Basic Fuel Price (BFP) by 39.94c per litre for petrol and 8.83c per litre for diesel. While illuminating paraffin prices increased slightly, the prices of propane and butane, which affect LP gas costs, decreased.
A firmer rand, averaging R17.29 to the US dollar compared to R17.49 in the previous review period, also contributed to the lower fuel prices.
“This appreciation of the rand resulted in lower contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin,” the DMPR added.
The fuel price reductions are expected to provide modest relief for consumers and businesses facing ongoing cost-of-living pressures.
