All fuel prices are dropping at midnight on Tuesday, with diesel seeing the biggest drop.
By Carien Kruger, Senior Journalist at African Farming and Landbouweekblad
The wholesale price for diesel with a sulphur content of 0.05% is decreasing by 21c/litre and for diesel with a sulphur content of 0.005% by 19c/litre.
According to the Central Energy Fund, the price of petrol is decreasing by 51c/litre.
The changes in prices can be attributed to, among other things, the average international prices for petrol and diesel, which decreased from 26 September to 30 October.
According to the Department of Mineral Resources and Energy, the average Brent crude oil price decreased from 67.16 US dollars/barrel to 64.14 US dollars/barrel during the period.
Another factor that played a role was the strengthening of the rand. The rand strengthened from R17.49 to R17.29 per US dollar during the period. This contributed to the decline in the prices of diesel and petrol.
Due to the international increase in paraffin prices, the wholesale price as well as the maximum retail price for paraffin will decrease by only 1c/litre on 5 November, while the maximum retail price for gas will decrease by 61c/kg.
Also read:
Alternatives getting better, but still not outperforming diesel engines
Diesel refunds: Compliance challenges for farmers
‘Overreaching’ fuel bill a threat for farmers, agricultural businesses
