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OFFICIAL: Petrol price to drop upto R1.02 in October, while diesel set for 10c increase

OFFICIAL: Petrol price to drop upto R1.02 in October, while diesel set for 10c increase

Pretoria – Fuel prices are starting to come down and South African motorists can look forward to another petrol price reduction in October.

On Monday, the Department of Mineral Resources and Energy (DMRE) announced 93 octane petrol will decrease by 89c per litre, while 95 octane will decrease by R1.02 per litre at midnight on Wednesday.

The prices of diesel (0.05% sulphur) will increase by 10c per litre, while diesel (0.005% sulphur) will increase by 15c per litre.

Meanwhile, illuminating paraffin will now cost 61c less per litre and the price of liquefied petroleum gas is to increase by 19c per kilogram.

The department said several international and local factors contributed to the decrease.

“The high demand and continued low supply of diesel led to a lower decrease in diesel prices compared to petrol.

“Petrol prices decreased compared to the previous period as a result of lower inventories emanating from routine refinery maintenance in the northern hemisphere,” the department said in a statement.

International oil prices have come down since the beginning of September, with Brent Crude trading at about $85 per barrel in late September.

However, the rand has suffered on the back of record load shedding this month, dropping in value from R17.13 to the US dollar at the beginning of the month to R18.15 on September 27.

Even though prices are coming down, the Automobile Association remains concerned about the overall impact that high prices are having on consumers.

“The price hikes in June and July will continue to impact the economy, and on the financial situation of all South Africans. A sustainable solution to mitigating rising fuel costs is still necessary and until that solution is found, citizens will be at the mercy of fuel price hikes,” the AA said.

The prices of fuel products will be adjusted as follows:
-Petrol (93 ULP and LRP) R0.89 per litre decrease;
-Petrol (95 ULP and LRP) R1.02 per litre
decrease;
-Diesel (0.05% sulphur) R0.10 per litre increase;
-Diesel (0.005% sulphur) R0.15 per litre increase;

— Department of Mineral Resources and Energy ‏ (@DMRE_ZA) October 3, 2022

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