Petrol, diesel and paraffin prices set to reach one-year low
Petrol will be the cheapest it has been since February 2022.
The retail prices of both 93 and 95 unleaded petrol will decline by R2.06 per litre from Wednesday, January 4.
A litre of 95 unleaded petrol will cost R21.40 inland and R20.75 at the coast.
Petrol is now the cheapest it has been since February 2022, when Russia’s invasion of Ukraine spiked oil prices globally.
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Wholesale diesel prices will see an even more significant decline, with 50 parts per million (ppm) reducing by around R2.81 and 500ppm by about R2.69.
Illuminating paraffin’s wholesale price is also set to drop by R1.93 per litre.
The Department of Mineral Resources and Energy said the average Brent oil price fell from $88.77 a barrel to $85.08 over the past month.
“The oil prices continued to drop due to fears of a global economic recession,” the department said.
