The department also announced a reduction in the price of illuminating paraffin and an increase in the price of gas.
The department said one of the main factors for the reduction is the decrease in the price of Brent crude oil.
“The main contributing factors are: Less demand for crude oil due to recession concerns and a resurgence of Covid-19 in China. The decision by the Organization of the Petroleum Exporting Countries (Opec) and non-Opec members to increase oil production. In the absence of supply constraints, crude oil prices might have decreased further.
“The average international product prices of petrol, diesel, Illuminating Paraffin and LPG have decreased during the period under review. LPG prices have increased due to higher freight rate during the period under review,” the department said.
The temporary reduction in the government’s fuel levy will fall away this month.
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