Minister of Mineral Resources and Energy, Gwede Mantashe, made an announcement about the adjustment of fuel prices based on global factors with effect from Wednesday, 2nd December 2020.
According to Mantshe, fuel prices are adjusted on a monthly basis determined by local and international factors because South Africa imports crude oil and finished products at a price set at the international level, including importation costs.
Based on these factors, the price of fuel will reduce as follows:
The petrol price will drop by 13 cents a litre, however, Diesel users will pay 20 cents more per litre.
All other fuels will be going up too, including paraffin, which will now cost 29 cents more per litre.