Fuel price expected to decrease on Wednesday

Motorists will get some relief at the pumps on Wednesday as fuel prices come down for the second month in a row. 

According to the Department of Mineral Resources and Energy, both 93 and 95 unleaded petrol prices will decrease by 71 cents per litre, while diesel will go down by 80 cents or 84 cents per litre depending on the sulphur content. Illuminating paraffin will decrease by 43 cents a litre.

The department’s, Robert Maake, explains what led to the decrease.

“Its mainly because of the lower prices of oil petroleum products, which were in line with the lower oil prices during the period under review. However, the weaker rand took away over 50 cents from all the fuel price reductions LP Gas is increasing mainly due to higher freight rate and higher prices of Butane.”

The Department says with the Organisation of the Petroleum Exporting Countries (OPEC) having decided not to cut oil production, except for Saudi Arabia, will bring some stability in the oil price market.

However, the weak rand exchange rate against the US dollar still poses upside risks, but there is hope that it will also stabilise and not have a major impact on prices.

Fuel price relief for motorists: