Relief at the pumps as fuel prices decrease at midnight

The price of both grades of petrol is set to decrease by 71 cents per litre as at midnight tonight (Tuesday).

This month’s adjustments announced by the Department of Energy on Monday show an 84 cents per litre decrease in the price of diesel and a 43 cents per litre drop in illuminating paraffin.

The fuel price decreases were affected by a number of factors, including international oil prices and the rand.

“The rand depreciated on average against the US dollar, from R18.13 to R18.99, during the period under review when compared with the previous one.

“This led to higher contributions to the basic fuel prices of petrol, diesel and illuminating paraffin by 54.58 cents per litre, 50.88 cents per litre and 52.52 cents per litre respectively,” said the department.

“The average international product prices of petrol, diesel and illuminating paraffin followed the decreasing trend of crude oil prices during the period under review.”

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