Price of petrol, diesel and paraffin to go down this Wednesday

Primrose Lerato Mbhiza

The Department of Mineral Resources and Energy (DMRE) says the price of both grades of petrol will go down by R1,78c per litre while diesel will decrease by 85.08c and 82.08c a litre from Wednesday.

The price of illuminating paraffin will decrease by 97c per litre at wholesale, and the price for Single Maximum National Retail price (SMNRP) for IP will decrease by R1,30c and the price of LP gas will increase by R1,30c  per kg. 

The Department’s spokesperson, Robert Maake, said the main reason for the fuel price decrease is the price of Brent Crude oil which decreased from $91.86 to $88.72 during the period under review, mainly due to the rise in global crude oil inventories because of increased production from non-OPEC + producers.

“The lifting of sanctions on Venezuela by the US created a positive outlook on supply. The low impact of the Israel-Hamas