SA sees another petrol price drop, diesel goes up
The Department of Mineral Resources and Energy has announced another drop in the price of petrol for October.
The price of 95 unleaded petrol will decrease by R1.02, while 93 petrol will go down by 89c from Wednesday.
This while the diesel price will increase by between 10c and 15c a litre.
The department announced the fuel price on Monday.
Spokesperson Robert Maake says the main reasons for the latest petrol decreases is due to the lower international oil prices.
However, he says the diesel market is still very tight.
"The release of crude oil stocks by the International Energy Agency member countries and the US which assisted in supplementing tight supply and keeping the prices lower.
"Saudi Arabia cutting oil prices to compete with cheaper oil sold by Russia. Oil prices are dropping amid fears of global recession that could affect the demand for finished products.
“The average international product prices of petrol, illuminating paraffin, diesel and LPG have decreased during the period under review due to the following reasons: the high demand and continued low supply of diesel led to lower decrease of diesel prices compared to petrol," says Maake.
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