Relief for diesel users as price drops in April
Motorists will pay slightly less for fuel from Wednesday with the Department of Mineral Resources and Energy announcing a decrease in the price of both diesel and petrol.
The price of 93 unleaded petrol will decrease by 1 cent per litre, while 95 unleaded will go down by 2 cents per litre.
This while diesel will get a solid cut of between 73.58c and 74.58c per litre.
Illuminating paraffin is set to go down by 124.90 cent per litre at wholesale.
Department of Energy spokesperson Robert Maake says the main reasons for the is the international crude oil prices and the rand-dollar exchange.
"The average Brent Crude oil price decreased from 82.14 US dollars to 79.24 USD during the period under review. There was a lot of volatility in the market this period. The main contributing factors are the International Silicon Valley and Credit Suisse Banks failures.
“This caused uncertainty in the markets and a shift from crude oil to Gold and other precious metals which resulted in a decrease of crude oil prices.
“Interest rate hikes by the US Federal Reserve also contributed to the decrease of crude oil prices on fears of a global economic recession," Maake explained.
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