August’s marginal albeit welcomed fuel price drops

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By Smile Staff Reporter


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fuel price image
Image by Lizell Persens

 

 

Motorists will be able to spare a few cents from midnight tonight when the fuel price goes down by a marginal cut. The Department of Mineral Resources and Energy released the final figures on Monday.

 

Both grades of petrol are set to decrease by 15 cents per litre. Diesel will be 17 cents and 28 cents cheaper, while the price of illuminating paraffin decreases by 22 cents per litre. Spokesperson Robert Maake explains why:

 

READ MORE: Consumers continue feeling the pinch as repo rate unchanged

 

“The reason for these adjustments is the stronger rand against the US Dollar during the period under review, and slightly higher oil prices on average compared to the previous cycle. The slate levy remains zero in the price structures of both petrol and diesel,” explained Maake.

 

fuel price increase impact on consumers
Image by Rudy and Peter Skitterians from Pixabay

 

To put this into context, those living on the coast are currently paying R22,47 for a litre of 95 octane petrol. From Wednesday, they will pay R22,32.

 

This is the third consecutive fuel price drop this year.

 

Smile Staff Reporter
Smile Staff Reporter

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