Petrol and Diesel Prices to Decrease Across South Africa from Wednesday

Johannesburg: Some relief will be felt at the pumps this month when all grades of petrol and diesel record decreases from Wednesday. According to South African Government News Agency, the Department of Mineral and Petroleum Resources (DMPR) has announced the following price adjustments: Petrol 93 (ULP and LRP) will see a 4 cent decrease, while Petrol 95 (ULP and LRP) will also decrease by 4 cents. Diesel with 0.05% sulphur will decrease by 56 cents, and diesel with 0.005% sulphur will decrease by 57 cents. In addition, illuminating paraffin will see a wholesale price decrease of 37 cents, with the single maximum national retail price for illuminating paraffin dropping by 49 cents. The maximum retail price of LPGas is set to decrease by R1.32, with a larger decrease of R1.51 in the Western Cape. The DMPR explained that the average Brent Crude oil price fell from $69.06 USD to $67.01 USD during the review period. The main contributing factors include increased production by OPEC+ and non-OPEC producers, a s lower global economic growth outlook, and uncertain trade tariffs. The average international prices of all petroleum products decreased in line with the decline in crude oil prices. This led to lower contributions to the Basic Fuel Prices (BFP) of petrol by 1.88 cents per litre, diesel by 54.35 cents per litre, and illuminating paraffin by 35.54 cents per litre. The prices of propane and butane also decreased during the period under review. The decrease means that a litre of Petrol 95 (ULP and LRP) will cost R21.55 in Gauteng, while at the coast, it will now cost R20.72 as of Wednesday. Furthermore, the Rand appreciated slightly against the USD during the period under review, cushioning prices by close to 2.00 cents per litre on all products.