… To come into effect this coming Friday
… To drop by E1.11 in SA
BY PHUMELELE MKHONTA
MBABANE- It is a happy day for motorist.
In less than two months, the price of fuel will be decreasing again and this is according to a statement that was sent out by the Acting Principal Secretary (PS) to the Ministry of Natural Resources and Energy Dumisani Mngomezulu.
The statement was sent out earlier today.
The acting PS said the above mentioned ministry informed the public that the price of petrol (ULP-95) will decrease by 75 cents per litre while the price of illuminating paraffin will decrease by 20 cents per litre.
“The price of diesel 50 ppm S will remain unchanged. The new fuel prices will come into effect midnight, Thursday, September 29 (Friday, September 29, 2022),” said Mngomezulu.
He also said crude oil prices decreased to an average of US$91.71 (E1 644.91) per barrel in the month of September 2022, from an average of US$100.78 (E1 816.31) per barrel realized in the month of August 2022.
The acting PS also said the Lilangeni/Dollar exchange rate depreciated and averaged E17.10 in the month of September as compared to E16.52 realised in the month of August 2022.
“While petrol and paraffin products incurred over-recoveries (surplus), diesel incurred a deficit due to that the international demand for diesel has increased in the world markets and this has led to a high price of diesel internationally hence a price decrease could not be realized for diesel.
“While the situation warranted an increase in the price of diesel, the ministry has decided not to increase diesel price this month and instead, monitor the situation,” said Mngomezulu.
He further said the ministry encouraged the public to use fuel efficiently as the international oil markets and the Lilangeni/Dollar exchange rate remained highly volatile.
In the meantime in South Africa, petrol prices will drop by R1 (E1).
According MSN, the final adjustments had to be determined today and the price of 95-octane petrol would have decreased with R1.11 per litre and 93-octane with 99 cents a litre.
“The stronger rand undoubtedly contributed to the positive petrol price outlook as well as the lowering of the Brent crude oil price,” said SA economist Ulrich Joubert.
MSN also stated that diesel prices were set to rise between 12 and 17 cents per litre in South Africa, which was a major concern seeing that this was the fuel mainly used in the mining, manufacturing and agricultural sectors.
New Fuel Prices in Eswatini:
- Unleaded Petrol will decrease from E21.75 per litre to E21 per litre.
- Diesel (0.005%S) price will remain unchanged at E23.50 per litre.
- Paraffin price will decrease from E18.65 per litre to E18.45 per litre.
