PETROL PRICE GOES DOWN BY E1.50

… While diesel, paraffin foes down by E2

BY PHUMELELE MKHONTA

MBABANE– This will be the happiest festive season for motorist.

This is as the Ministry of Natural Resources and Energy has announced that fuel prices will go down effective Friday (December 23, 2022).

Issuing the statement was the Principal Secretary to the Ministry of Natural Resources and Energy, Dorcas Dlamini, who said the ministry was informing the public that the price of Diesel 50 ppm S would decrease by E2 per litre while the price of Unleaded Petrol 95 will go down by E1.50 per litre and Illuminating Paraffin will go down by E2 per litre.

According to the statement by Dlamini, the new fuel price will come into effect on midnight of Thursday.

“The crude oil prices traded an average of US$82.37 (E1 427.47) in the month of December from an average of US$93.80 (E1 625.55) a barrel realised in the month of November, 2022. The Lilangeni/Dollar exchange rate slightly appreciated and averaged E17.33 in the month of December, 2022 as compared to the E17.68 realised in the month of November, 2022.

“The increase in the crude oil prices is due to the fear along oil traders coupled with slow demand due to the COVID-19 outbreak in China. Further, the U.S released their emergency supply. This oil market submission resulted in the fuel price reduction which necessitated the fuel price reduction decreases” explained the PS.

She went on to say the ministry encouraged the public to use fuel efficiently as the international oil markets and the Lilangeni/Dollar exchange rate remained high.

New Fuel Prices: