Commodities
Fuel Price Adjustments Announced for South Africa
The Department of Mineral and Petroleum Resources has announced adjustments to fuel prices that will take effect on Wednesday, August 5th. Petrol will decrease by 52 cents a litre, while diesel will increase by between R1.23 and R1.38 cents a litre.
The reduction in petrol costs is attributed to lower crude oil prices, but the department's spokesperson, Robert Maake, notes that diesel prices have increased due to supply shortages linked to the Russia-Ukraine conflict.
Illuminating paraffin will rise by 2.3 cents a litre, while the maximum retail price of LP Gas will decrease. The rand weakened slightly against the US dollar during the same period.