South African motorists can expect a decrease in both the petrol and diesel price as from Wednesday (5 February 2020).
This drop is primarily due to an appreciation of the rand and a decrease in international petrol price during the period under review, the Department of Energy said in a statement.
Because of these factors, the DoE said that both grades of petrol (93 and 95) will decrease by 13 cents per litre.
Both grades of Diesel (0.05% and 0.005% sulphur) will decrease by 5 cents per litre.
The price of illuminating Paraffin (SMNRP) will decrease by 4 cents per litre, while the maximum LPGas retail price will decrease by 1 cent per kilogram.
From Wednesday, 95 will cost R16.03 in Gauteng and R15.39 at the coast, while diesel will cost R14.57 in Gauteng and R14.03 at the coast.
“The average international product prices for petrol decreased, whilst that of Diesel and Illuminating Paraffin increased during the period under review,” the DoE said.
“The rand appreciated against the US Dollar during the period under review, on average, when compared to the previous period.
“The average rand/US dollar exchange rate for the period 27 December 2019 to 30 January 2020 was 14.32 compared to 14.47 during the previous period.
“This led to a lower contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 7.26 c/l, 7.75 c/l and 7.71 c/l respectively,” it said.
This is how fuel prices will change in February:
| Fuel (Inland) | January official | February Official |
|---|---|---|
| 95 Petrol | R16.16 | R16.03 |
| 93 Petrol | R15.84 | R15.71 |
| 0.05% Diesel (wholesale) | R14.62 | R14.57 |
| 0.005% Diesel (wholesale) | R14.67 | R14.62 |
| Illuminating Paraffin | R9.28 | R9.24 |
Credit: Staff Writer @BusinessTech