Some slight relief was in sight for motorists with the retail price of petrol which came off from its record highs on Tuesday midnight five days ago, but for some motorists disappointment had started to take off. The Department of Minerals and Energy said the price of 93 unleaded petrol will decrease by four cents a litre, whilst 95 unleaded will be reduced by one cent a litre.
However, both types of diesel would unfortunately increase by 22 cents a litre, whilst paraffin would jump 32 cents a litre, and the department also mentioned that LP-Gas users would pay 7 cents more per kilogram. The adjustments were attributed to higher oil prices which were kept balanced by the decrease in the slate levy. Miyelani Maluleke who happens to be an economist with ABSA bank quoted that it’s a little bit of bad news for those who utilise diesel because the price went up, but according to him it was not bad for petrol consumers because the price reduced a bit, and from an inflation perspective, what has been mentioned previously can be seen as marginal changes.
Economists like Miyelani are quite alarmed about the fact that higher fuel prices will have an impact on the families of motorists, because two months ago the petrol went up to R18, 30 cents per inland, breaching R18 per litre which was considered to be the highest fuel price increase the motorists have encountered this year as a result of weakening the rand against the US dollar and international oil prices are also higher.
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