Good news for motorists is that the price of petrol is coming down by more than R1 a litre this week, but unfortunately diesel sees a small increase.
According to the department of mineral resources and energy, the price of 95 unleaded petrol will decrease by R1.02 per litre, while 93 unleaded is coming down by 89 cents.
The price of 500ppm diesel, on the other hand, is set to go up by 10 cents per litre, while lower-sulphur 50ppm will see a 15 cent hike. Illuminating paraffin is set to decrease by 61 cents.
Unfortunately, the price cuts are not enough to bring petrol to below the R20 mark.
From today, a litre of 95 unleaded petrol will cost R21.71 at the coast and R22.36 in the inland regions, where 93 Unleaded will now cost R22.06.
The savings per tank will vary from around R30 in a smaller car to about R56 in a larger vehicle, reports IOL.
The slight diesel price increases will push the wholesale price of 50ppm up to R23.67 at the coast and R24.30 inland.
Were it not for the weaker rand, October’s savings would have been significantly more.
Petrol would have come down by around R1.50 and diesel in the region of 50 cents, were the lower international oil prices not offset by the weaker rand that struggled on the back of record load-shedding and rising international interest rates.
The local currency depreciated from an average of R16.70 to the US dollar to R17.55 during the period that determined October’s fuel prices.