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Relief for motorists as fuel price drops this week
Motorists will pay less at the fuel pumps from Wednesday following an announcement by the Department of Energy of the drop in fuel prices.
The Energy Department said the drop in the fuel price is a result of the strengthening of the Rand against the US Dollar and a decrease in the prices of crude oil.
As of 7 March, the petrol price will drop by 36 cents a litre and between 44 and 47 cents less for a litre of diesel.
“The Rand appreciated, on average, against the US Dollar from 12.20 to 11.82 Rand per USD during the period under review.
“The average Brent Crude oil price decreased from 69.06USD to 65.05USD per barrel during the period under review. This led to lower prices of petroleum products in the international markets,” said the department.
The fuel prices for paraffin and gas for March 2018 will be also adjusted as follows:
- Illuminating Paraffin (wholesale): 22.00 c/l decrease
- SMNRP for IP: 29.00 c/l decrease
- Maximum LPGas Retail Price: 69.00 c/kg decrease
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