Mon 05 September 2022:
The Central Energy Fund has announced decreases across the board on the prices of fuel, gas and paraffin from Wednesday, paving the way for some relief for consumers.
This marks the second consecutive month of decreases following increases experienced this year.
The price adjustments per litre are as follows:
- A R2.04 decrease in both grades of petrol.
- Diesel 0.05% Sulphur will cost 56c less, while the price of diesel 0.005% Sulphur will decrease by 46c.
- Wholesale illuminating paraffin has decreased by 82c, while the retail price will cost R1.09 less.
- The maximum retail price of LP Gas will go down by R1.65.
The fund said several international and local factors contributed to the decrease.
“The average international product prices for petrol, diesel and illuminating paraffin decreased during the period under review.
“The Rand appreciated against the US Dollar during the period under review, on average, when compared to the previous period. The average Rand/US Dollar exchange rate for the period 29 July to 01 September 2022 was 16.7016 compared to 16.8719 during the previous period.
“This led to a lower contribution to the basic fuel prices on petrol, diesel and illuminating paraffin by 12.97 c/l, 15.63 c/l and 15.90 c/l respectively,” the CEF said.
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