Industries News.Net

Petrol prices to decrease by 13 cents per litre

27 Nov 2020

Motorists will pay 13 c/l less for both grades of petrol from 2 December.

The Department of Mineral resources and Energy on Friday released its fuel price adjustments for December.

While petrol prices will decrease, partly because of reduced international prices of the fuel, the prices of diesel and illuminating paraffin and gas will increase.

"The movement in international prices of petrol decreased, whilst the prices of diesel and illuminating increased during the period under review," the department said in a statement.

Demand for diesel and other products such as heavy fuel and illuminating paraffin increased for space heating, especially as it is the winter season in the northern hemisphere.

The adjustments are as follows:

Petrol (both 93 ULP and LRP): 13.00 c/l decrease

Petrol (both 95 ULP and LRP): 13.00 c/l decrease;

Diesel (0.05% sulphur): 19.86 c/l increase;

Diesel (0.005% sulphur): 19.86 c/l increase;

Illuminating Paraffin (wholesale): 28.86 c/l increase;

SMNRP for IP: 38.00 c/l increase;

Maximum LPGas Retail Price: 137.00 c/kg increase; and

Among the contributing factors to the adjustments include increases in the Brent Crude oil price, and the rand appreciation which led to lower contributions to the Basic Fuel prices of petrol, diesel and illuminating paraffin.

During the period Minster of Mineral Resources and Energy Gwede Mantashe also approved a net increase of 14.30 c/l in the annual margin adjustments on petrol and a net increase of 7.86 cents per litre on diesel and illuminating paraffin wholesale prices - these are effective from 2 December.

Source: News24

Copyright ©1998-2021 Industries News.Net | Mainstream Media Limited - All rights reserved