Big cuts in petrol and diesel prices announced

On Wednesday, the price of petrol (both 93 and 95 unleaded) will be reduced by R2.06 per liter, while diesel will be reduced by R2.69 to R2.81.

A liter of 95 petrol costs R21.40 in Gauteng and R20.75 on the coast.

Gasoline is now the cheapest it has been since February 2022, when Russia’s invasion of Ukraine triggered a surge in oil prices.

Diesel costs R21.23 per liter in Gauteng and R20.58 on the coast.

Diesel prices remain higher than petrol prices and are still above last April’s levels.

In a statement, the Department of Natural Resources and Energy said the average Brent oil price fell to $85.08 from $88.77 a barrel over the past month.

“Oil prices continued to fall on fears of a global economic recession,” the department said.

The rand also appreciated slightly against the dollar.

Local fuel prices are determined by international oil prices as well as the dollar rand value as South Africa buys oil in dollars.

EXPLAIN | Because of this, SA does not get cheap Russian fuel

The price of luminous paraffin will drop by R1.93 per liter.

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