By Silindzelwe Nxumalo
A month later after the last fuel increase, the country will again experience another fuel increase as of Midnight, Thursday, October 5th, 2023.
The Ministry of Natural Resources and Energy Acting Principal Secretary (PS) Sicelo Nxumalo informed the public that the price of Unleaded Petrol 95 (ULP 95) will increase by 50 cents per/litre, whilst the prices of Diesel 50 pm and Illuminating Paraffin will increase by E1.30 per litre.
Nxumalo said the new fuel prices shall come into effect Midnight, Thursday, October 5th, 2023, which would be effective Friday, October 6th, 2023.
The Acting PS explained that the fuel price increase was a result of the significant increase in international fuel prices coupled with the weaker Lilangeni/Dollar exchange rate experienced in September 2023.
“This situation led to huge under-recoveries/deficit in the local fuel products, necessitating the price increase,” he said.
ALSO READ: King Appoints Members of House of Assembly
He mentioned that in September 2023, the Brent crude oil price traded at an average of US$92.56 a barrel, compared to an average of US$85.32 a barrel in August 2023.
He said the Lilangeni/Dollar exchange rate depreciated and averaged E18.99 in September 2023 compared to E18.76 realized in August 2023.
Nxumalo said the new fuel prices would be that the Unleaded Petrol (ULP 95) price would increase from E22.30/litre to E22.80 / litre, Diesel (0.005%S) price would increase from E23.10/litre to E24.40/litre and Illuminating Paraffin price would increase from E17.75to E19.05/litre.
“The Ministry encourages the public to use fuel efficiently as the international oil markets and the Lilangeni/Dollar exchange rate remain highly volatile,” he said.
Fuel Prices Increases:
Fuel OLD PRICE NEW PRICE
Unleaded Petrol (ULP 95) E22.30/litre E22.80 / litre
Diesel (0.005%S) E23.10/litre E22.80 / litre
Illuminating Paraffin E17.75/litre E19.05/litre
. . . IT’S GETTING TOUGHER ON US – CONSUMERS
Eswatini Consumer’s Association says the rise in fuel was a confirmation for the consumers that life was getting tougher.
Eswatini Consumer’s Association Chairman Mandla Ntjakala said that the constant rise in petrol meant that there was a rise in all commodities.
He mentioned that the cost of living was already high for the consumers.
He stated that he had great hope that the incoming 12th parliament would do something to ensure that the country could produce efficient food to sustain the nation.
“We cannot do anything about the increase in fuel however, there is an urgent need for the country to produce food to a level where consumers are not affected when such increases happen,” he said.
The Chairman mentioned that it was a huge problem that most of the country’s money was being invested in food yet if the government could develop a proper plan on how they would be able to ensure that the food in the county was enough in the country.
Ntjakala stated that with more money spent on food production when increases such as fuel happen, the consumers wouldn’t be too affected.