The news we have all been waiting for, will the price of petrol increase or decrease ahead of the festive season? A little of both is the final answer. While the cost of petrol will decrease on December 2, the price of diesel will increase.
A statement by the Department of Energy confirmed the price adjustments that will go into effect this week.
– Petrol 95: decrease of 13 cents per litre
– Petrol 93: decrease of 13 cents per litre
– Diesel 0.05%: increase of 20 cents per litre
– Diesel 0.005%: increase of 20 cents per litre
– Illuminating Paraffin: increase of 29 cents per litre
The department has blamed the cost of petroleum internationally and the rand-to-dollar exchange rate for the change in prices.
“The average international product prices for Petrol, Diesel decreased whilst Illuminating Paraffin increased during the period under review. 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 02 October 2020 to 29 October 2020 was 16.4657 compared to 16.7204 during the previous period. This led to a lower contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 7.91 c/l, 7.56 c/l and 7.16 c/l respectively,” the statement read.