/ 2 January 2024

Petrol and diesel prices decrease on Wednesday

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Photo: Dwayne Senior/Bloomberg via Getty Images

Consumers can expect relief at the pumps this new year as the petrol price is set to decrease on Wednesday.

The price of octane 93 and octane 95 will fall by 62 cents and 76 cents a litre, respectively, from midnight.

Diesel will decrease between R1,18 and R1,26 per litre, while Illuminating paraffin will also drop by 93 cents.

The Department of Mineral Resources and Energy attributed the price drop to the decrease in crude oil prices from $82.62 to $77.35 during the period under review.

Civil society group People Against Petrol & Paraffin Price Increase has welcomed the lower tariffs but has expressed concern over the effect of mismanagement on hikes.

“Any slash in the price of fuel is most welcome but I think we need to see the fuel prices in South Africa within the context of how our politicians have actually abused and mismanaged the fuel prices system in the country. Because of that, we’re still paying exorbitant prices for petrol,” said its president Visvin Reddy.