Faizel Patel – 27/11/2020
The Energy Department has announced the price of all grades of petrol will decrease by 13 cents per litre from Wednesday, 2 December.
The prices of different grades of diesel (0.05% sulphur) and (0.005% sulphur) increase by 19.86 cents per litre while illuminating paraffin will increase by 28 cents per litre.
The price of LP gas also goes up by R 1.37 cents per kg.
The Energy Department says the main reason for the fuel price decreases is the Rand appreciated, on average, against the US Dollar (from 16.46 to 15.63 Rand per USD) during the period under review when compared to the previous one.
It says this led to lower contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by 25.88 c/l, 26.12 c/l and 25.14 c/l respectively
“The average Brent Crude oil price increased from 40.63USD to 42.10USD per barrel during the period under review. Oil prices hit the highest since March, mostly on the back of more positive news about Covid-19 vaccines. Furthermore, Crude oil prices continued to climb after the Energy Information Administration reported a crude oil inventory draw of 800,000 barrels per week during November 2020.”
South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors.
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