The prices of petrol, diesel and illuminating paraffin will fall by as much as 65 cents a litre from Wednesday
The prices of petrol, diesel and illuminating paraffin will fall by as much as 65 cents a litre from Wednesday, the department of mineral and petroleum resources said on Monday.
Petrol 93 and 95 — both unleaded and lead replacement variants — will cost 65 cents less at retail points.
The wholesale price of diesel with 0.05% sulphur will decrease by 50 cents and that of 0.005% sulphur diesel by 57 cents.
Illuminating paraffin — used by many poor South Africans to cook and for lighting — will be cheaper by 53 cents a litre, with the maximum national retail price down 70 cents.
Against the trend, the maximum retail price of liquefied petroleum gas will rise by 31 cents a kilogramme nationally and by 36 cents in the Western Cape.
The department said the adjustments reflected changes in international fuel prices and the rand exchange rate.
Brent crude oil averaged $64.08 a barrel during the period under review, up from $61.47, influenced by geopolitical developments in Iran, Greenland, Kazakhstan and Venezuela, as well as severe cold weather in the US.
The higher crude oil price was offset by lower international refined product costs and a stronger rand, which moved from an average of R16.85 against the US dollar to R16.31, lowering contributions to the basic fuel price of petrol, diesel and paraffin.