Zuko Komisa

For the month of August, the Department of Minerals and Petroleum Resources has declared reductions for all fuel classes.
Starting on Wednesday, a liter of 95 petrol, which presently costs R23.26 in Gauteng, will only cost 23.11 cents.
The price decreases expected to kick in on Wednesday are as follows:
• Petrol 93 (ULP and LRP): 15 cents decrease
• Petrol 95 (ULP and LRP): 15 cents decrease
• Diesel (0.05% sulphur): 28 cents decrease
• Diesel (0.005% sulphur): 17 cents decrease
• Illuminating Paraffin (wholesale): 22 cents decrease
• Single Maximum National Retail Price for illuminating paraffin: 29 cents decrease.
• Maximum LP Gas Retail Price: 14 cents per kg decrease
The department provided an explanation of the global and regional elements that contributed to this month’s pricing adjustments in a statement on Monday.
“The average Brent Crude oil price increased from 82.24 US Dollars (USD) to 83.55 USD per barrel, during the period under review. The main contributing factors are the decline in US inventories, reduced production from Canada due to the wildfires, tensions in the Middle East as well as continued production cuts by OPEC [Organization of the Petroleum Exporting Countries].
“The average international product prices for petrol increased slightly on average as the summer seasonal demand in the Northern Hemisphere improved, while diesel and illuminating paraffin prices decreased on average during the period under review.
“The Rand appreciated on average, against the US Dollar (from 18.44 to 18.23 Rand per USD) during the period under review when compared to the previous one. This led to lower contributions to the Basic Fuel Prices of all products by about 14.00 per litre,” The Department of Minerals and Petroleum Resources
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