South Africa’s Department of Mineral Resources and Energy has announced a reduction in fuel prices, with diesel prices dropping by as much as 57 cents per litre, effective from September 3.
The price of petrol has decreased by 4 cents per litre, while illuminating paraffin has dropped by 49 cents per litre.
Diesel prices have gone down by 56 and 57 cents per litre, depending on the grade. Both grades of petrol will see a 4 cent per litre reduction.
Additionally, the retail price of LPG has decreased by R1.32 per kilogram nationwide, and by R1.51 in the Western Cape.
Robert Maake, spokesperson for the Department of Mineral Resources and Energy, attributed the price cuts to both domestic and international factors, including lower global oil prices and a slight appreciation of the rand against the US dollar during the same period.
The fuel price reductions have been welcomed by many South Africans.
In an interview with SABC News, independent economist Elize Kruger described the decrease as good news for consumers, saying it will help keep inflation in check.
“The decline in both petrol and diesel prices is good news for the South African consumer and good news for the inflation rate. While inflation is on an upward trend in the second half of the year, lower fuel prices in September will offset some of the other pricing pressures evident in the basket this month,” Kruger explained.
Source: https://energynewsafrica.com
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