Starting Wednesday, petrol and diesel prices will be reduced, partly due to a stronger rand.
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Unleaded petrol 93 and 95 will decrease by 15 cents per litre. Wholesale diesel prices will drop by 17 cents for 0.005% sulphur diesel and 28 cents for 0.05% sulphur diesel. The price of illuminating paraffin will also be cut by 22 cents per litre.
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Fuel prices in South Africa are primarily influenced by global oil and fuel costs and the rand exchange rate, given that oil is priced in dollars.
Over the past month, the average Brent oil price rose from $82.24 to $83.55 per barrel. Factors contributing to this increase include a drop in US inventories, reduced production from Canada due to wildfires, ongoing Middle East tensions and continued production cuts by OPEC.
However, the rand strengthened from an average of R18.44 to R18.23 against the dollar. The new fuel prices will take effect on Wednesday.
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