Diesel goes down by 60c/l

By EDN Reporter

Motorists driving diesel-fueled vehicles will be pleased to learn that a 60 cents decrease has been implemented. The decrease follows shortly after the ministry announced an E1.50 increase on November 4.

The Ministry of Natural Resources and Energy announced that effective on December 1 at midnight, the price of Diesel 50 ppm S will decrease by 60 cents per litre whilst the price for unleaded Petrol 95 and Illuminating Paraffin will remain unchanged at E21 and E18.45 respectively.

The ministry announced that the Lilangeni/Dollar exchange rate slightly appreciated and averaged E17.68 in November compared to October when it was at E18.04.

The international demand for diesel also dropped in the world markets in November leading to the price reduction internationally. “As a result, diesel is carrying an over-recovery/ profit hence necessitating a price decrease.”