Fuel price drop welcome relief for distressed consumers

Johannesburg – The fuel price decrease announced for October could be a welcome relief for distressed consumers ahead of the start of festive season shopping if the rand survives global market volatility.

The Department of Mineral Resources and Energy has published the official fuel price changes for October, showing a decrease across all grades from Wednesday.

Petrol 95 will decrease by 32 cents per litre while petrol 93 will decrease by 23 cents per litre.

Diesel 0.05% and diesel 0.005% will fall by a significant 90 cents per litre and 93cents per litre, while illuminating paraffin will decrease by 76 cents per litre.

Fuel prices in South Africa are adjusted on a monthly basis, informed by international and local factors, including importation and shipping costs of both crude oil and finished products at a price set at the international level.

The spokesperson of trade union Uasa, Stanford Mazhindu, said on Monday: “The fuel price decrease that becomes effective at midnight on Wednesday will bring some relief to cash-strapped South Africans who now, under lockdown level 1, are able to travel for a variety of reasons and not just limited to business, seeking medical attention or looking for home supplies.”

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