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Tuesday, July 23, 2024

Big cut in diesel prices for April, slight changes for petrol

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The department of mineral resources and energy has announced that diesel price will be cut by over 73c a litre on Wednesday, with a marginal 1c decrease in 93 unleaded petrol, and a 2c increase in 95.

Diesel 0.05% sulphur will see a 73.58c decrease, while 0.005% sulphur will drop by 74.58c a litre.

Fuel prices, which will be adjusted on Wednesday 5 April, are largely determined by the oil price, as well as the rand – as oil is priced in dollars.

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While the Brent oil price has fallen from above $84 a barrel to below $80 over the past month, the rand has taken a big knock this month. In recent days it has been steadying, getting a major lift following a bigger-than-expected rate hike last week Thursday.

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The price of a litre of 95 unleaded petrol will increase to R22.97 in Gauteng on Wednesday. A year ago, 95-octane petrol retailed for R21.60 in Gauteng.

The diesel price will fall to around R20.89 a litre in Gauteng. A year ago, diesel sold for more than R21.

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Petrol prices were hiked by R1.27 at the start of March, while diesel increased by between 30c and 32c a litre.

We live in a world where facts and fiction get blurred

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