Faizel Patel – 02/11/2020
The Energy Department has announced the price of all grades of petrol will decrease by 27 cents per litre from Wednesday, 4 November.
The prices of different grades of diesel go down by 12 cents (for 0.05% sulphur) and 11 cents (0.005% sulphur) per litre while illuminating paraffin will increase by 15 cents per litre.
The price of LP gas also goes up by 26 cents per kg.
The Energy Department says the main reason for the fuel price decreases is the Rand appreciated slightly, on average, against the US Dollar (from 16.72 to 16.46 Rand per USD) during the period under review when compared to the previous one.
“During the current fuel price review, the average Brent Crude oil price decreased slightly from 40.82 USD/barrel to 40.63 USD/barrel. There is oversupply of crude oil globally and the renewed lockdown measures across Europe exacerbates the situation.”
South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors.