Fuel prices set to drop on Wednesday
Fuel prices across the board will decrease on November 5, Mineral and Petroleum Resources Minister Gwede Mantashe has announced.
The price of petrol is set to fall by 51c/ℓ for both 93 and 95 grades, while diesel will decrease by 19c/ℓ to 21c/ℓ depending on the sulphur content. Liquefied petroleum gas (LPG) will also become cheaper, with a reduction of 61c/kg nationally and 70c/kg in the Western Cape.
Meanwhile, illuminating paraffin will see a marginal decline of 1c/ℓ.
The adjustments are largely attributed to a decline in the average price of Brent Crude oil, which fell from $67.16/bl to $64.14/bl during the review period. Mantashe says the decrease is linked to oversupply from increased global production and uncertainty caused by ongoing trade tensions, which could reduce economic growth and demand for crude oil.
The average international prices of petrol and diesel followed this downward trend, contributing to the lower basic fuel prices, while the price of illuminating paraffin rose slightly, increasing its contribution to the overall price.
The appreciation of the rand against the dollar also played a role in reducing fuel costs. The rand strengthened from an average of R17.49 to R17.29 to the dollar, lowering the contributions to the basic fuel prices of petrol, diesel, and illuminating paraffin.
The slate levy, a domestic pricing mechanism, remained unchanged at 0c/ℓ, reflecting a positive balance of R3.74-billion for petrol and diesel at the end of September.
For imported LPG through the Port of Saldanha Bay, the maximum refinery gate price has been set at R12 820.08/t, with a maximum retail price of R32.90/kg, effective from November 5.
The detailed fuel price schedule for different regions across the country will be published on November 4.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation


















