Relief at the petrol pumps on Wednesday
The reasons for the fuel price adjustments in June are the strengthening of the Rand against the US dollar.
THE Department of Energy has announced that the price of all grades of petrol will drop by 25 cents, while the price of diesel will decrease by 23 cents on Wednesday, 7 June.
South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors.
The main reasons for the fuel price adjustments in June are the strengthening of the Rand against the US Dollar during the period under review and the average decrease in the prices of petroleum products in the international markets in line with the lower crude oil prices.
“Oil prices declined after data showed an increase in US crude inventories, fuelling concerns that markets remained oversupplied, despite efforts by top producers Saudi Arabia and Russia to cut output,” the Department of Energy said in a statement.
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