By Phephile Motau
The Ministry of natural resources has announced a decrease in the prices of illuminating paraffin and diesel by 40 cents/litre.
The price adjustment, which will come into effect at midnight, May 4 and effective May 5 will not affect the price of petrol, as it will remain unchanged.
This means that unleaded petrol will cost E20.80/litre, diesel will decrease from E22/litre to E21.60/litre and paraffin decrease from E16.15/litre to E15.75/litre.
Read More: International oil prices trigger SA fuel price hike
According to the Principal Secretary in the ministry, Dorcas Dlamini, the price decrease for diesel and illuminating paraffin is a result of weaker demand for the products in the international market. As a result, both products are carrying an over recovery/profit hence necessitating a price decrease.
Dlamini said in May 2023, Brent Crude Oil prices dropped due to weaker markets which outweighed the OPEC announcement of a production cut.
Read More: Petrol price rise warning after OPEC oil output cut
“The crude oil prices traded at an average of US$79.15 a barrel, compared to E79.73 a barrel in March,” Dlamini said.
She further encouraged emaSwati to use fuel sufficiently as the international oil markets and the Lilangeni/Dollar exchange rate remain highly volatile.
