Motorists to pay less as petrol, diesel prices cut

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The Department of Mineral and Petroleum Resources (DMPR) has announced the following price adjustments:

• Petrol 93 (ULP and LRP): 4c decrease.
• Petrol 95 (ULP and LRP): 4c decrease.
• Diesel (0.05% sulphur): 56c decrease.
• Diesel (0.005% sulphur): 57c decrease.
• Illuminating Paraffin (wholesale): 37c decrease.
• Single Maximum National Retail Price for Illuminating Paraffin: 49c decrease.
• Maximum Retail Price of LPGas: R1.32 decrease and R1.51 decrease in the Western Cape.

“The average Brent Crude oil price decreased from $69.06 to $67.01 during the period under review. The main contributing factors are increasing production by OPEC+ and non-OPEC [Organization of the Petroleum Exporting Countries] producers, slower global economic growth outlook as well as uncertain trade tariffs.

“The average international prices of all petroleum products decreased in line with the decrease in crude oil prices. This led to lower contributions to the Basic Fuel Prices [BFP] of petrol by 1.88c per litre [c/l], diesel by 54.35c/l and illuminating paraffin by 35.54c/l, respectively. The prices of Propane and Butane also decreased during the period under review,” the DMPR explained.

The decrease means that a litre of Petrol 95 (ULP and LRP) will cost R21.55c a litre in Gauteng, while a litre of Petrol 95 (ULP and LRP) in the coast will now cost R20.72 a litre as of Wednesday, 3 September.

Furthermore, the rand appreciated slightly against the dollar during the period under review – cushioning “prices by close to 2c per litre on all products”.