GOOD NEWS AS PETROL PRICE DROPS AGAIN, DIESEL UNCHANGED

MBABANE – Good news for motorists as they will once again experience another petrol price decrease in a space of a month.

On September 2, the price of Petrol (ULP 95) decreased by E1.50/litre, while Diesel 50ppm S and Illuminating Paraffin decreased by 50 cent/litre. Yesterday, the Acting Principal Secretary (PS) in the Ministry of Natural Resources and Energy, Dumisani Mngomezulu, announced that Petrol (ULP 95) would decrease by 75 cents/litre while Illuminating Paraffin would decrease by 20 cent/litre.  However, the price of Diesel 50 ppm S would remain unchanged at E23.50/litre. “The new fuel prices shall come into effect at midnight, Thursday September 29, 2022 (effective Friday, September 30, 2022).”

Decreased

Mngomezulu said the crude oil prices decreased to an average of US$91.27 per barrel in the month of September 2022 from an average of US$100.78 a barrel realised in the month of August 2022. He said the Lilangeni/Dollar exchange rate depreciated and averaged E17.10 in the month of September 2022 as compared to the E16.52 realised in the month of August 2022. He stated that while petrol and paraffin products incurred over-recoveries (surplus), diesel incurred a deficit due to that the international demand for diesel had increased in the world markets and this had led to a high price of diesel internationally, hence a price decrease could not be realised for diesel. Mngomezulu said while the situation warranted an increase in the price of diesel, the ministry had decided not to increase the price this month and instead monitor the situation.  Mngomezulu encouraged the public to use fuel efficiently as the international oil markets and the Lilangeni / Dollar exchange rate remain highly volatile.

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