Decrease in Fuel Prices
Minister of Mineral Resources and Energy, Gwede Mantashe, announced on Tuesday that both grades of petrol will see a decrease of 62c and 76c per litre, while diesel will decrease by R1,18 and R1,26 per litre and illuminating paraffin by R1,24 per litre. However, LP gas will see an increase of 11c per kilogram.
Minister Gwede Mantashe
The department attributed the increase in the price of LP gas to higher trade rates and high prices of butane. According to the department, the increase in LP gas prices led to lower contributions to the Basic Fuel Prices of petrol, diesel, and illuminating paraffin by 50.83 c/l, 105.81 c/l, and 99.00 c/l, respectively.
The Rand slightly depreciated on average against the US Dollar during the review period, which led to higher contributions to the Basic Fuel Prices of petrol, diesel, and illuminating paraffin by 5.30 c/l, 5.83 c/l, and 6.00 c/l, respectively.
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