PETROL PRICE GOES UP

MBABANE – The Ministry of Natural Resources and Energy yesterday announced the increase in price of Unleaded Petrol 95 by 50 cents per litre.

The announcement was made by the Acting Principal Secretary in the Ministry of Natural Resources and Energy, Sicelo Nxumalo, in a statement issued yesterday. Nxumalo announced that while the price of petrol would go up, the price of Diesel 50 ppm S and Illuminating Paraffin would decrease by 40 cents/litre and 30 cents/litre respectively.

Effective

“The new fuel prices shall come into effect on the midnight, Thursday, March 30, 2023 (effective Friday, March 31, 2023),” said Nxumalo. It is worth noting that the petrol price will be going up for the second time in March as on March 2, it was increased by 80 cents per litre. At that time, prices for diesel and paraffin had remained unchanged. The acting PS said the Unleaded Petrol 95 price increase was a result of the high increase in the international petrol prices, as a result, unleaded petrol was carrying an under recovery/deficit, hence necessitating theprice increase. He said the Brent Crude Oil prices remained turbulent as the crude oil prices declined due to the surging crude oil inventories. He noted that the crude oil prices traded at an average of US$79.70 a barrel compared to an average of US$84.15 a barrel realised in the month of February 2023.

weakened

“The Lilangeni/Dollar exchange rate weakened and averaged E18.35 in the month of March 2023 as compared to the E17.76 realised in the month of February 2023,” he added. “The ministry encourages the public to use fuel efficiently as the international oil markets and the Lilangeni/Dollar exchange rate remain highly volatile,” said Nxumalo.

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