Here’s some positive news affecting your pocket. A significant fuel price decrease will kick in on Wednesday. The relief at the fuel pumps comes after 4 consecutive months of hefty petrol price hikes.
The price of both grades of petrol will decrease by R1,24 per litre – while diesel will drop by between R1,08 and R1,18 per litre. Illuminating paraffin will be R1,07 cheaper, while LP Gas will decrease by R1,35 per kg.
The Minister of Mineral Resources and Energy, Mr Gwede Mantashe announced the adjustment of fuel prices on Tuesday.
READ MORE: Fuel prices predicted to drop in June
In just a few more hours, 95 Unleaded will cost R23.46 per litre at coastal areas and R24.25 per litre in the inland regions. 93 Unleaded petrol will be priced at R23.91 per litre.
The Automobile Association’s Eleanor Mavimbela said this comes as a welcome relief to embattled consumers.
“High fuel costs and interest rates are still strangling many South Africans – especially those with debt – and any positive development will be well received. However, it remains necessary that the fuel pricing mechanism is reviewed to determine if there are any factors that can be permanently revised to mitigate against rising fuel costs in future. This is a call we have been making on government since 2018 and the longer it takes to do so, the longer South Africans will bear the brunt of any fluctuations to the factors that influence the fuel price,” said Mavimbela.
