Relief at the petrol pumps on the eve of the festive season
CAPE TOWN – The drop in the fuel price that comes into effect at midnight is good news on the eve of the festive and holiday season, were the words of Stanford Mazhindu, spokesperson of the trade union UASA.
This after the Department of Mineral Resources and Energy announced a 13 cents drop in the price of 93 (ULP and LRP) and 95 (ULP and LRP) respectively.
The price of diesel (0.05% Sulphur) will come down by 16 cents while that of diesel (0.005% Sulphur) will decrease by 14 cents a litre.
The price adjustments will see a litre of 95 in Gauteng, which currently costs R16.21 a litre come down to R16.08 a litre.
The price of illuminating paraffin (wholesale) will decrease by 23 cents per litre, while that of illuminating paraffin (SMNRP) will come down by 31 cents a litre.
The Maximum Retail Price for LPGAS will decrease by 30 cents per kilogram.
"We hope there will be another decrease closer to the school holidays when many South Africans travel to the coast and other destinations to spend time with friends and family. Fuel often makes up the bulk of the cost of such holiday plans," said Mazhindu.
The department said average international product prices for petrol, diesel and illuminating paraffin decreased during the period under review.
“The Rand appreciated on average against the US Dollar during October month. However, the average rand/US dollar exchange rate for October (R14.93/$) was higher than that of September (R14.84/$) 2019.”
“This led to a higher contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by more than four cents per litre (4c/l),” it said.
At the end of October, the Automobile Association (AA) predicted a petrol price drop in October.