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South Africans wake up to decreased fuel prices on Wednesday

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South Africa’s fuel pumps have been adjusted to reflect the lowering of petrol prices for both 93 and 95 grades by 13 cents a litre starting from Wednesday, 6 November 2019.

This pre-Christmas gift has completely surprised local consumers as they woke up to see diesel prices slashed by 16 cents for diesel with 0.05 percent sulphur and by 14 cents for that with 0.005 percent sulphur, respectively, the energy ministry said.

The office added that the illuminating paraffin used in poor households and the rural areas has seen its price reduced by 23 cents per litre.

According to Energy and Mineral Resources Minister Gwede Mantashe, the move to lower prices was largely due to the stronger local currency rand against the US dollar in the past month, which is at R15 to the greenback.

South Africa imports more than 60 percent of its fuel, which is priced in dollars on the world market. A stronger rand means the imported fuel prices in dollar gets cheaper, the minister said.

– APA

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