Fuel prices to ease in November
Updated | By Gcinokuhle Malinga
Motorists can expect some relief at the pumps from Wednesday.
"Both grade of petrol will decrease by R1. 78cent per liltre. Diesel will decrease by R0.82 and R0.85 cents a liter. Illuminating paraffin will decrease by R1.13 cents at retail level and LP Gas will increase by R1.49 per kg,” says the Energy Department's Robert Maake.
Maake says lower prices of oil and petroleum products during the period under review helped bring the cost of fuel down.
He says the Israel-Hamas conflict has also not impacted the flow of crude oil - despite it unfolding in the oil-rich Middle East.
"The rand depreciated slightly on average, against the US dollar during the period under review when compared to the previous one. This led to higher contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 6.34 c/l, 7.57 c/l and 7.61 c/l, respectively.
"The cumulative slate balance on petrol and Diesel at the end of September 2023 had a negative balance of R6.2 billion. Therefore, the slate levy will increase by 21.92 c/l to 52.62 c/l. This will be implemented in the price structure of petrol and diesel with effect from the 1st of November 2023.
"The average international product prices of petrol, diesel, illuminating paraffin followed the decreasing trend of crude oil while LPGas increased due to higher prices of propane and butane during the period under review. These led to lower contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 207.06 c/l, 115.15 c/l and 105.18 c/l, respectively."
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