Petrol Prices Dip while Diesel Soars

(The Post News)- South African motorists faced mixed changes in fuel prices on Wednesday, August 5.

At midnight, while petrol prices decreased, the cost of diesel and illuminating paraffin is rise significantly. Both unleaded petrol (95) and (93) is forecasted to drop by approximately 28c per litre. However, diesel prices are increased by 63 to 65 cents per litre, while illuminating paraffin is was rised by 32c per litre.

The Department of Mineral and Petroleum Resources announced in a statement that diesel and paraffin prices are rising due to limited stocks in the US, unexpected refinery shutdowns, and the closure of some EU refineries, which has tightened global supply.

Local fuel prices are influenced by international oil prices and the rand dollar exchange rate, as oil is traded in US dollars.

According to the department, “the main contributing factor to the lower crude oil price is the decision by OPEC to increase production and the uncertainty caused by looming US trade tariffs including secondary tariffs which could affect global economic growth and demand for crude oil.”

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Viki Stuurman

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Hi, I'm Viki Stuurman a journalism graduate currently pursuing an Honours degree in Journalism and Media Studies at the University of the Free State. I developed a passion for exploring the evolving relationship between media, society, and technology. Throughout my undergraduate studies, I developed a strong foundation in media ethics, investigative reporting, interviewing, multimedia production and news writing. In addition, I actively contributed to campus publications and worked on various multimedia projects, gaining hands-on experience in both traditional and digital journalism. I believe that journalism is the key to information.

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