Motorists will get an early Christmas present this week with the price of all grades of petrol set to come down by R1.84 a litre this week.
The Department of Energy announced that both grades of petrol 93 (ULP and LRP) and 95 (ULP and LRP) will decrease by R1.84. The price of Diesel 0.05% sulphur will come down by R1.45 a litre while that of Diesel 0.005% sulphur is scheduled to come down by R1.47 a litre.
A litre of 95 ULP will now cost R15.24 a litre in Gauteng as of Wednesday. This will be a much-needed reprieve for motorists who in recent months have experienced shock increases in the price of fuel.
In November, a litre of 95 ULP cost motorists in Gauteng R17.08.
Last month, Energy Minister Jeff Radebe appealed to the business sector to withhold passing on the increasing costs of fuel prices to the consumer.
“You would recall that in the month of September, we intervened in order to alleviate the fuel price increase, where the price of petrol did not go up. We want to appeal to the private sector to show some generosity by not passing on the cost to consumers because we know the price of bread and petrol has a devastating impact, especially on vulnerable members of the South African society. This is our appeal,” the Minister told SAnews at the time.
Meanwhile, the price of Illuminating Paraffin (wholesale) will decrease by R1.33 in the wholesale price, while the price of Illuminating Paraffin (SMNRP) will decrease by R1.78.
The Maximum Retail Price for LPGAS will come down by R2.43 cents a kilogram in the maximum retail price.
“The average international product prices for petrol, diesel and illuminating paraffin decreased during the period under review,” said the department.
In addition, in line with the application of the Regulatory Accounts System, Radebe has approved a net increase of 7.7 cents a litre in the annual margin adjustments on petrol and a net increase of 4.59 cents a litre on diesel and illuminating paraffin wholesale prices, with effect from 5 December