Petrol price lowered on Wednesday, but diesel pricier | Business

On Wednesday, the unleaded petrol price will be cut by 17c a litre, while 93 will be lowered by 24c a litre. Diesel prices will be hiked between 12c and 18c a litre, depending on the sulphur content.South African fuel prices are determined mainly by international oil costs and the rand-dollar exchange rate, as oil is priced in dollars.

The average rand-dollar exchange rate for the past month was R18.6825/$, compared to R18.9854 during the previous month. The CEF reports that the average international product prices for petrol, diesel and paraffin increased over the past month. The latest change brings the price of a litre of 95 unleaded petrol to R22.46 in Gauteng, from R21.40 at the start of 2023 – and a record price of R26.74 in July last year.As recently as in November last year, diesel cost close to R25.50. Diesel is back to around the levels before the invasion of Ukraine caused a big spike in oil prices.In times of uncertainty you need journalism you can trust.

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