Massive decrease in Fuel!!! Just in time for December holidays...
Photo Cred: On File | Supplied

South African consumers will breathe a sigh of relief at the pumps as the price of petrol and diesel will decrease from Wednesday onwards.

 

South Africa (05 October 2020) – Consumers will breathe a sigh of relief at the pumps as the price of petrol is set to decrease by between 23 and 32 cents a litre.

The Department of Mineral Resources and Energy (DMRE) said the price of a litre of 93 (ULP and LRP) would come down by 23 cents while a litre of 95 (ULP and LRP) will cost 32 cents less in Gauteng.

From Wednesday onwards, a litre of 95 ULP in Gauteng, which currently costs R15.18 a litre will now cost R14.86 a litre.

In September, the price of petrol increased by 1 cent.

Meanwhile, both grades of diesel (0.05% Sulphur and 0.005% Sulphur) will decrease by 90 and 93 cents a litre, respectively.

The price of illuminating paraffin (wholesale) will decrease by 76 cents.

The price of illuminating paraffin (SMNRP) will decrease by 101 cents, while the Maximum Retail Price for LPGAS will increase by 20 cents per kilogram.

The DMRE said the average international product prices for petrol, diesel and illuminating paraffin decreased during the period under review.

In a statement last week, the Automobile Association (AA) predicted that the price of fuel would come down by between 24 and 33 cents.

“The Rand’s daily average dipped as low as R16.10 to the US dollar on September 18, following a long downward trend which began in the first week of August. However, a steep jump to around R16.90 followed by a brief plateau and a further spike to nearly R17.20 caught watchers unawares, and there is rightly some concern about the Rand’s short- to a medium-term trajectory,” said the AA on Tuesday.

The AA noted that the Rand’s weakening profile was mirrored in strengthening international petroleum product prices.

“Almost in lockstep with the Rand, diesel and petrol prices spiked, and then pulled back before starting a further climb. If this trend of a weakening Rand and rising international fuel prices continues, it could be extremely negative for South African fuel users, and we will watch further changes with interest.”

It noted that the trends since early August have been stronger for the Rand and cheaper for oil.

“It is too early to tell whether the spikes in both were a blip or the start of a more sustained reversal, but motorists should continue to be wary given the ongoing instability in both local and global economies,” said the AA.


Sources: SA Government 
Don’t ever miss the Good Things. Download the Good Things Guy App now on Apple or Google
Have something to add to this story? Share it in the comments or follow GoodThingsGuy on Facebook & Twitter to keep up to date with good news as it happens or share your good news with us by clicking here
Click the link below to listen to the Good Things Guy Podcast, with Brent Lindeque – South Africa’s very own Good Things Guy. He’s on a mission to change what the world pays attention to, and he truly believes that there’s good news all around us. In the Good Things Guy podcast, you’ll meet these everyday heroes & hear their incredible stories:
Or watch an episode of Good Things TV below, a show created to offer South Africans balance in a world with what feels like constant bad news. We’re here to remind you that there are still so many good things happening in South Africa & we’ll hopefully leave you feeling a little more proudly South African. 

Facebook Comments

About the Author

Brent Lindeque is the founder and editor in charge at Good Things Guy.

Recognised as one of the Mail and Guardian’s Top 200 Young South African’s as well as a Primedia LeadSA Hero, Brent is a change maker, thought leader, radio host, foodie, vlogger, writer and all round good guy.

Leave a Reply

Your email address will not be published. Required fields are marked *