Relief at the pumps: SA motorists see fuel price reductions
Zuko Komisa
- Motorists in South Africa are set to benefit from a decrease in all grades of petrol and diesel prices from Wednesday.
- The Department of Mineral and Petroleum Resources has announced a 4-cent per litre drop for petrol and a more substantial decrease of over 50 cents for diesel.
- The price reductions are attributed to a dip in global Brent Crude oil prices and a slight appreciation of the South African Rand.
There’s some good news for South African motorists as fuel prices are set to decrease across the board from Wednesday, offering a welcome reprieve at the pumps.
The Department of Mineral and Petroleum Resources (DMPR) has announced price adjustments for all grades of petrol and diesel.
Motorists will see a 4-cent per litre drop for both 93 and 95 ULP & LRP petrol. Diesel users will benefit from a more significant reduction, with the price of 0.05% sulphur diesel decreasing by 56 cents per litre and 0.005% sulphur diesel by 57 cents per litre.
These price cuts mean that from Wednesday, a litre of 95 ULP & LRP petrol will cost R21.55 in Gauteng and R20.72 at the coast.
The DMPR stated that the decreases are largely due to a drop in the average Brent Crude oil price, which fell from $69.06 to $67.01 US dollars.
This reduction is attributed to several factors, including increased production from both OPEC+ and non-OPEC countries, a slower global economic outlook, and uncertainty around trade tariffs.
Additionally, the South African Rand has shown a slight appreciation against the US dollar, which has helped to further cushion prices by nearly 2 cents per litre across all petroleum products.
Beyond petrol and diesel, other fuel products are also seeing price reductions. The wholesale price of illuminating paraffin will decrease by 37 cents per litre, while the single maximum national retail price for the same will drop by 49 cents.
The Maximum Retail Price of LPGas will see a significant decrease of R1.32, with a R1.51 drop in the Western Cape.