Faizel Patel – 01/05/2021
There is some good news for motorists after the Energy Department announced that the price of both grades of petrol will decrease by 9 cents per litre from Wednesday, 5 May.
The prices of different grades of diesel (0.05% sulphur) decreases by 31 cents per litre and (0.005% sulphur) by 30 cents per litre while illuminating paraffin will decrease by 23 cents per litre.
The price of LP gas decreases by R1,72 per kg.
The Energy Department says the main reason for the fuel price adjustments is due to the average Brent Crude oil price decreasingfrom 65.14USD to 64.16USD per barrel during the period under review.
It says the Rand appreciated slightly, on average, against the US Dollar (from 14.95 to 14.22 Rand per USD) during the period under review when compared to the previous one.
“The vessel that was stuck in the Suez Canal causing a delay for all cargo containers including oil tankers was freed easing fears regarding supply disruptions. The markets anticipate that OPEC and Russia will agree to ease production cuts from May 2021 during their next meeting.”
South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors
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