There has not been much in terms of good news lately, so this week’s petrol and diesel price decreases are most welcome.
The department of Mineral Resources and Energy confirmed that both forms of fuel will see their prices drop on Wednesday (4th March) this week, noting that 93 (ULP and LRP) and 95 (ULP and LRP) will cost 19 cents less, and diesel (0.05 percent Sulphur) and diesel (0.005 percent Sulphur) will drop even further by 54 cents.
The department adds that this decrease will see a litre of 95 petrol come down to R15.84 cents in Gauteng, which is less than its February mark of R16.03.
There is also welcome news for those reliant on illuminating paraffin (wholesale), with it also set to decrease by 68 cents per litre, along with illuminating paraffin (SMNRP) dropping by 91 cents.
As for why the drop is happening, the department noted that the average international product prices for petrol, diesel and illuminating paraffin decreased during the period under review.
This therefore makes it the third consecutive drop in petrol price since the beginning of 2020. Long may it continue, we say.
[Image – Photo by Justus Menke on Unsplash]
