Petrol and diesel prices to drop on Wednesday

Energy department announces cuts to most fuel prices in first week of January, but LP gas to rise

02 January 2023 - 16:26
By Staff writer
Petrol and diesel prices will drop from Wednesday but the price of LP gas will increase. Picture: Supplied
Image: Supplied Petrol and diesel prices will drop from Wednesday but the price of LP gas will increase. Picture: Supplied

The petrol price will drop by R2.06/l on Wednesday, bringing some relief to consumers in the first week of 2023.

A litre of 93 and 95 petrol will fall by R2.06/l, the mineral resources and energy department said. The wholesale price of 500 ppm and 50 ppm diesel will drop by R2.68/l and R2.08/l, respectively. Wholesale illuminating paraffin will fall by R1.93/l and the retail price by R2.58/l.

However, LP gas will increase by 82c/kg

The reductions are the result of a stronger rand and a decrease in the Brent oil price.

The department said the average price of Brent oil fell from $88.77 (R1,508) a barrel to $85.08 over December and the rand had strengthened slightly against the dollar. 

The Automobile Association said the cuts would help ease the fuel price burden on motorists returning from the holidays and consumers heading into the new year. 

“These decreases will not take fuel prices to levels seen in January 2022, but will go a long way to alleviating the fuel price burden — and its associated impact on other prices — felt by millions of South Africans.”

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