Petrol price set to drop on Wednesday

Business News

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Mineral resources and energy minister Gwede Mantashe has announced a petrol price decrease which takes effect from Wednesday. This follows two months of price increases.

The price for 93 octane fuel will decrease by 71c/l and that of 95 octane by 68c. Diesel will decrease by 67 cents per litre. The wholesale price of illuminating paraffin will drop by 71ccents.

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

In December 2021, Solidarity sent letters to Minister Mantashe and Finance Minister Enoch Godongwana, about the dramatic increase in fuel prices South Africans are currently being burdened with.

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