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By ANA reporter 
1h ago
Johannesburg – The retail price of both grades of gasoline sold in South Africa will decrease by R1.74 per liter from next Wednesday, while the wholesale price of diesel will drop to R1.61, an energy department statement said Thursday. .
The department said the retail price of illuminating paraffin, still used by millions of poor people for cooking and lighting, would drop at R2.97, while the price of gas would be R2.62 lower since May 6.
South Africa adjusts fuel prices every month, taking into account world oil prices and the rand exchange rate.
“International average prices for gasoline, diesel and illuminating paraffin products decreased during the period under review,” the energy department said Thursday.
He said this was partially offset by a weaker rand against the United States dollar compared to the previous period.
Lower fuel prices will offer some comfort to South Africans who are dealing with the severe economic consequences of a national blockade imposed by the government since March 27 to try to curb new Covid-19 transmissions.
The restrictions have left many jobs threatened as established companies struggle to stay viable.
Last week, the National Treasury announced additional tax measures that it said would provide around R70 billion in relief for companies in light of the Covid-19-related restrictions, either through tax cuts or deferrals of tax payments.
The government has also announced a R500 billion aid package to mitigate the economic damage of the pandemic.
African News Agency / ANA
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