Fuel prices drop: Here’s how much you’ll save from midnight
Motorists will see some relief at the pumps as fuel prices decrease from midnight, following months of consecutive increases.
In a positive development for motorists, fuel prices are set to decrease across several categories, effective from midnight.
Here are the decreases:
- Petrol 93 & 95: Down 7c per litre
- Diesel: Down 17c & 23c per litre
- Paraffin: Down 8c per litre
- LP Gas: Down 2c per kilogram
According to Pretoria Rekord, this month’s relatively modest price movements follow petrol price hikes of 82c in February, 12c to 19c in January, 17c in December, and 25c in November. Diesel rose by between R1.01 and R1.05 last month.
Higher international prices for petrol weighed on the cost equation for March, while a slightly stronger rand had a positive effect, reducing the cost by around 14c.
Brent crude oil traded at higher levels earlier in the month, peaking at $77 (R1 435) on February 11, before retreating to almost three-month lows of around $72 last week.
This decline was driven by lower demand in the US, leading to larger-than-expected stockpiles, as well as expectations of a peace deal between Ukraine and Russia, which could see sanctions on Russian oil lifted.
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Read original story on www.citizen.co.za
