Petrol price up, diesel goes down
The Department of Energy announced that on February 3, the price of petrol 95 Octane and 93 Octane will increase by six cents per litre and the price of diesel will decrease by 62 cents per litre.
The maximum retail price of liquid petroleum gas (LPGas) will also increase by 1 cent per kg and the wholesale price of illuminating paraffin will decrease by 59 cents per litre.
According to the department, the main reason for the decrease in diesel and paraffin prices is the oversupply of middle distillates such as diesel and illuminating paraffin in the global market and that China contributed to the situation by exporting diesel into the market.
The increase in the petrol price is due to tightness in the market because some major refineries in the USA were on unplanned shutdown. The weakening of rand against the US dollar also contributed negatively towards the current fuel price adjustment.



