Big decrease in petrol, diesel prices starting October

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The fuel price adjustments were announced by the Department of Mineral and Petroleum Resources on Monday, 30 September.

The price adjustments for fuel, paraffin and gas are as follows:

• Petrol 93 (ULP and LRP): R1,06c decrease.
• Petrol 95 (ULP and LRP): R1,14c decrease.
• Diesel (0.05% sulphur): R1,14c decrease.
• Diesel (0.005% sulphur): R1,12c decrease.
• Illuminating Paraffin (wholesale): R1,11c decrease.
• Single Maximum National Retail Price for illuminating paraffin: R1,48c decrease.
• Maximum LPGas Retail Price: 23c increase.

A litre of 95 petrol, which currently costs R22,19c in Gauteng, will now cost R21,05 a litre as of Wednesday.

On the coast, a litre of 95 petrol, which costs R21,40c in September, will now cost R20,26 a litre in October.

The department explained the international and local factors leading to the price adjustments for October.

“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.

“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.

“The rand appreciated on average, against the US dollar (from 18.05 to 17.68 rand per USD) during the period under review. This led to lower contributions to the Basic Fuel Prices of all products by over 21c litre,” the department said.