Slight relief for consumers as petrol price drops

The petrol price is expected to drop by 24 cents per litre, while diesel goes up by 18 cents per litre on Wednesday.

The department of mineral resources and energy (DMRE) said the illuminating paraffin prices would also decrease by 18.91 cents per litre. 

It attributed the price adjustments to the drop of international Brent crude oil prices coupled with the strengthening of the rand.

“Though the international fuel prices increased, the rand appreciated against the US dollar (from 18.99 to 18.64), affecting petrol, diesel, and illuminating paraffin prices by 19.77 cents per litre, 19.21 cents per litre, and 18.91 cents per litre, respectively, resulting in a decrease overall,” said the department.

Product prices have increased petrol 95ULP’s BFP by 2.66 c/l, diesel 500 ppm and 50 ppm by 37.08 c/l and 31.33 c/l, respectively, while illuminating paraffin contributed 15.76 c/l. 93 ULP's BFP was lower by 4.88 c/l. 

Compared to June, diesel’s wholesale price fell by between 80 and 84 cents, and gasoline’s retail price fell by 71 cents per litre and Illuminating paraffin decreases by 43c/l.

Slate levy on petrol and diesel remains at 0.00 c/l starting July fifth, 2023.