South African motorists will get some relief at the pumps this week, with petrol and diesel prices set to fall on Wednesday, 5 November.
According to the Department of Mineral and Petroleum Resources, the price of both 93- and 95-octane petrol (ULP and LRP) will drop by 51c a litre, while diesel (0.05% sulphur) will fall by 21c a litre and diesel (0.005% sulphur) by 19c a litre.
The department attributes the decrease mainly to lower international oil and product prices, a stronger rand, and stable local conditions.
The average Brent crude oil price decreased from $67.16 to $64.14 per barrel during the review period, primarily due to global oversupply and weaker demand expectations resulting from ongoing trade tensions.
Meanwhile, the rand appreciated from R17.49 to R17.29 against the dollar, leading to lower contributions to the basic fuel prices of petrol by 10.60 cents per litre and by 11.77 cents per litre for diesel.
Price changes
Fuel prices for inland provinces will be as follows:
- 93 Petrol: R20.97
- 95 Petrol: R21.12
- Diesel 0.05% (wholesale): R19.13
- Diesel 0.05% (wholesale: R19.20
Fuel prices for coastal provinces will be as follows:
- 93 Petrol: R20.18
- 95 Petrol: R20.29
- Diesel 0.05% (wholesale): R18.30
- Diesel 0.05% (wholesale: R18.44
