Petrol and diesel prices are to decrease from Wednesday, bringing some relief to consumers. Illuminating paraffin is also expected to decrease. Picture: UNSPLASH FREE DOWNLOADS
Motorists will be happy to know that the price of petrol and diesel drop today, Wednesday, October 2.
The prices of all grades of petrol and diesel are set to make a decrease.
Illuminating paraffin is also expected to decrease, with the only price rise coming in the cost of LP Gas. The fuel price adjustments were announced by the Department of Mineral and Petroleum Resources on Monday, September 30.
The price adjustments for fuel, paraffin and gas are as follows:
Petrol 93 (ULP & LRP): R1.06 decrease.
Petrol 95 (ULP & LRP): R1.14 decrease.
Diesel (0.05% sulphur): R1.14 decrease.
Diesel (0.005% sulphur): R1.12 decrease.
Illuminating Paraffin (wholesale): R1.11 decrease.
Single Maximum National Retail Price for illuminating paraffin: R1.48 decrease.
Maximum LPGas Retail Price: 23c increase
A litre of 95 petrol, which currently costs R22.19 in Gauteng, will now cost R21.05 a litre as of Wednesday. On the coast, a litre of 95 petrol, which costs R21.40 in September, will now cost R20.26 a litre in October.
The department explained in a statement the international and local factors leading to the price adjustments for October.
“The average Brent Crude oil price decreased from 78.54 US Dollars (USD) to 72.82 USD per barrel, during the period under review. The main contributing factor is the increased production from major oil-producing countries, despite lower demand concerns,” the department said in a statement.
“The average international petroleum product prices decreased on average, in line with the lower oil prices, during the period under review. This led to lower contributions to the Basic Fuel Prices of petrol by 91.74 c/l and 85.04 c/l, diesel by 91.37 c/l and 88.72 c/l and illuminating paraffin by 87.64 c/l, respectively.”
The department added that the rand appreciated on average, against the US Dollar (from R18.05 to R17.68 a USD) during the period under review. This led to lower contributions to the Basic Fuel Prices of all products by over 21 cents per litre, the department said.
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