By Johannah Malogadihlare
South Africa’s fuel price is set to decrease on Wednesday, according to the Mineral and Petroleum Resources Department.
A litre of 95 petrol, which currently costs R22,19 in Gauteng, will now cost R21,05 a litre. And on the coast, a litre of 95 petrol, which cost R21,40, will now cost R20,26 a litre.
Diesel will decrease by more than R1.
The department said the fuel price adjustment was influenced by local and international factors.
“The average Brent Crude oil price decreased from 78.54 US Dollars (USD) to 72.82 USD per barrel during the period under review. The main contributing factor is the increased production from major oil-producing countries, despite lower demand concerns,” it said.
“The average international petroleum product prices decreased on average, in line with the lower oil prices, during the period under review. This led to lower contributions to the Basic Fuel Prices of petrol by 91.74 c/l and 85.04 c/l, diesel by 91.37 c/l and 88.72 c/l and illuminating paraffin by 87.64 c/l, respectively.”
This is the fifth consecutive fuel price cut.
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