Both grades of petrol will decrease by 10 cents on Wednesday says Mineral Resources and Energy Minister Gwede Mantashe.
The price of petrol 93 (ULP and LRP) and 95 (ULP and LRP) will decrease by 10 cents while the price of diesel (0.05% sulphur) will increase by 20 cents and the price of diesel (0.005% sulphur) will increase by 21 cents.
Illuminating Paraffin (wholesale) is also set to increase by 20 cents.
The Minister said: “South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors. International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs, e.g. shipping costs,”.
According to reports, the main reasons for the decrease are due to crude oil prices, international petroleum product prices and the Rand/US Dollar exchange rate.