DIESEL, PARAFFIN PRICES DROP, PETROL UNCHANGED

MBABANE – Consumers will start paying less for diesel and paraffin from tomorrow.

The Principal Secretary (PS) in the Ministry of Natural Resources and Energy, Dorcas Dlamini, yesterday informed the public that the price of both diesel 50ppm S and illuminating paraffin, will decrease by 40 cents per litre, while the price of Unleaded Petrol 95 will remain unchanged. The new fuel prices shall come into effect at midnight, implying that the new amounts will be effective from tomorrow.

Decrease

The PS stated that the price decrease in the price of diesel 50ppm and illuminating paraffin was a result of a weaker demand for the products in the international markets. She said both these products were carrying an over recovery or profit, hence the decrease. She explained that this month, the Brent Crude Oil price remained turbulent as it dropped due to weaker global markets, which outweighed the Organisation of the Petroleum Exporting Countries (OPEC) announcement of a production cut. “The crude oil prices traded at an average of US$79.15 a barrel compared to an average of US$79.73 a barrel realised in the month of March, 2023,” she said.

Changes

She stated that under the new changes, diesel (0.005 per cent) price would decrease by 40 cents per litre, from E22 per litre to E21.60 per litre, while illuminating paraffin price would decrease from E16.15 per litre to  E15.75 per  litre. “The Unleaded Petrol (ULP 95) price will remain unchanged at E20.80 per litre. The ministry encourages the public to use fuel efficiently as the international oil markets and the Lilangeni to Dollar exchange rate remains highly volatile,” she said. Worth noting, this was the third fuel price change in 2023. The first change was on March 2, 2023 when unleaded petrol price increased by 80 cents, while diesel and paraffin remained unchanged. On March 29, the price of petrol increased by 50 cents per litre, while diesel and paraffin decreased by 40 cents and 30 cents per litre, respectively.

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