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South Africa reduces petrol prices

South Africa reduces petrol prices

7 days ago | by: David Kodjani

The South African government on Wednesday, August 2, 2022, lowered the price of petrol to the delight of consumers.

The price of petrol has been reduced by US$1.32. 

The drop affected all grades of petrol, diesel and paraffin, but there was a slight increase in the price of cooking gas, the South African Department of Energy said.

Diesel with 0.05% sulfur now costs 88 cents less, while the price of diesel with 0.005% sulfur has fallen by 91 cents. 

The wholesale price of lighting paraffin has fallen by 1.44 Rand, and the retail price by at least 1.92 Rand. However, the maximum retail gas price rose by 57 cents this month. 

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Gwede Mantashe explained that one of the main factors for the drop was the decline in the price of Brent crude oil on the world market, with recession fears and China still struggling with the coronavirus pandemic.

It is hoped that other African countries will follow South Africa's lead to provide some relief to their citizens.

Source: Journal du Mali

Translated by Koboyo KANABIA