In a positive development for Pretoria motorists, fuel prices are set to decrease across several categories, effective from Wednesday.

Here are the decreases:

• Petrol 93 & 95 decreases by 7c
• Diesel decreases by 17c & 23c
• Paraffin decreases by 8c
• LP Gas decreases by 2c p/kg.

This month’s relatively modest price movements follow petrol price hikes of 82 cents in February, 12 to 19 cents in January, 17 cents in December and 25 cents 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 to the tune of around 14 cents.

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 was due to lower demand in the US, leading to bigger than expected stockpiles, as well as the expectation of a peace deal between Ukraine and Russia, which could see sanctions on Russian oil lifted.

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