The patrol price of both 93 and 95 unleaded is set to drop by R2.04 a litre on Wednesday, while the price of diesel to decrease by 46.34 cents and 56.34 cents per litre, that’s according to the Department of Mineral Resources and Energy announced on Monday.
“The main reasons for this adjustment are the lower oil prices, which led to the lower prices of oil petroleum products. The rand also appreciated slightly against the US dollar during the period under review,” said department spokesperson Robert Maake in a statement. Maake said paraffin will also be cheaper by R1.09 cents per litre, while LP gas will R1.65 cents per kilogram.
“Although we are expecting fuel to be cheaper in September, we remain concerned about the overall high prices which impact on all consumers. The price hikes in June and July will continue to impact the economy and on the financial situation of all South Africans. A sustainable solution to mitigating rising fuel costs is still necessary and until that solution is found, citizens will be at the mercy of fuel price hikes,” notes the AA.
Bloomberg reports that this week’s cut of 8% in the 95 petrol price is the biggest monthly percentage decline since early 2020, when crude fell to record lows as demand plummeted due to worldwide lockdowns.
