South Africa-Business-Fuel

S/Africa cuts fuel prices amid oil market glut

APA-Johannesburg (South Africa)

South Africa on Wednesday cut fuel prices due to an oil glut on the world market following low demands for the commodity amid the current coronavirus pandemic, APA has learnt.

As a result of this move, the Ministry of Mineral Resources and Energy said the petrol price has come down to between 12 cents and 13 cents a litre for the 95 (ULP and LRP) type.

 

This means that a litre of 93 (ULP and LRP) petrol has come down by 12 cents a litre in the inland, the ministry said.

 

It added that a litre of diesel (0.05% Sulphur) has come down by nine cents, while that of diesel (0.005% Sulphur) has been cut by 0.9 cents.

 

The price of illuminating paraffin (wholesale) has decreased by 13 cents inland, and by 14 cents on the coast, the ministry said.

 

It added that the price of illuminating paraffin (SMNRP) has been lowered by 17.5 cents, while the maximum retail price for LPGAS will decrease by 26.8 cents per kg.

 

These price adjustments are the fourth consecutive drop in the fuel prices since the start of the year, the ministry noted.

 

The changes come as South Africa entered its sixth day of a 21-day lockdown in the country’s efforts to stop the coronavirus outbreak, which has confirmed 1,353 cases, resulting into five deaths from the virus.

NM/abj/APA

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