There will be more relief for South African motorists as petrol prices drop from Wednesday. This will be the fourth consecutive month that fuel prices decrease this year. 

INTERNATIONAL OIL PRICES LOW  

 According to the Department of Mineral Resources and Energy, the reason for the drop in prices is due to the declining brent crude oil price and the stronger Rand-Dollar exchange. The department said fuel prices in the country are adjusted monthly, informed by international and local factors. "International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs, like shipping costs. The main reasons for the fuel price adjustments are due to crude oil and petroleum product prices decreasing. Crude oil prices decreased from 83.55 US dollars to 78.54 USD per barrel during the period under review while petroleum product prices decreased on average during the period under review in line with lower crude oil prices," Robert Maake, Director of Fuel Pricing at the Department of Mineral Resources and Energy said.

NEW FUEL PRICES 

Both grades of 93 and 95 are down by 92 cents per litre and both grades of diesel are also coming down by between 79 cents and one-rand-five-cents per litre, while Illuminating paraffin decreases by R1.03 cents per litre. Maake said the fuel price schedule for the different zones will be published tomorrow.