Diesel prices drop while petrol hikes in September

Diesel prices drop while petrol hikes in September

The Department of Energy has announced a sizeable drop in prices for diesel, while petrol prices increase in September 2020.

Diesel 0.05% and 0.005% prices will dip by 21 cents per litre each.

Illuminating paraffin will also be decreasing by 26 cents per litre.

Petrol users, however, will have to fork out 1 cent more for Petrol 93 and 95.

All adjustments will apply from midnight on Wednesday, September 2.

According to the department the average product price of diesel, petrol and illuminating paraffin decreased during the review period with the rand ending August weaker against the dollar.

The average rand to US dollar exchange rate from July 31, 2020 to August 27, 2020 was R17.28 compared to R16.82 previously.

Because of this, there was higher contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin.

Expectations were that the petrol price would decrease in September but the Minister of Mineral Resources and Energy instead approved a retail margin increase of 5.3 c/l in the retail price structures of all octane grades of petrol with effect from September 2, 2020.

The increase was decided on to increase the wages of pump attendants, cashiers and administrative staff at petrol stations.

New price per litre as from September 2, 2020:

Petrol 93: R14.89

Petrol 95: R15.16

Diesel 0.05%: R13.27

Diesel 0.005%: R13.31

Illuminating paraffin: R7.16

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