{"id":97565,"date":"2022-08-01T08:23:10","date_gmt":"2022-08-01T07:23:10","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=97565"},"modified":"2022-08-01T08:23:10","modified_gmt":"2022-08-01T07:23:10","slug":"south-africa-to-reduce-pump-prices-of-fuel","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/south-africa-to-reduce-pump-prices-of-fuel\/","title":{"rendered":"South Africa To Reduce Pump Prices Of Fuel"},"content":{"rendered":"<p>The South African government says it will reduce the pump price of fuel from Wednesday.<\/p>\n<p>South Africa\u2019s Minister of Mineral Resources and Energy, Gwede Mantashe said this in a statement.<\/p>\n<p>He said the price adjustment is aimed at easing the burden on consumers of soaring energy prices.<\/p>\n<p>According to the minister, the price of petrol will drop by ZAR 1.32 ($0.08) per litre \u2014 to ZAR 25.42 and ZAR 24.99 \u2014 for 95-octane and 93-octane petrol, respectively.<\/p>\n<p>The price of diesel, used mainly by farmers, haulage vehicles and emergency power generators, will also be cut by 88 cents for high-sulphur diesel and 91 cents for lower sulphur diesel, he said.<\/p>\n<p>Mantashe said the prices were adjusted due to less demand for crude oil due to recession concerns and a resurgence of COVID-19 in China.<\/p>\n<p>He added that \u201cthe decision by OPEC and Non-OPEC members to increase oil production\u201d was another contributory factor.<\/p>\n<p>\u201cThe average international product prices of petrol, diesel, Illuminating Paraffin and LPG have decreased during the period under review. LPG prices have increased due to higher freight rates during the period under review,\u201d he said.<\/p>\n<p>\u201cThe movement in product prices has led to lower contributions to the Basic Fuel Price of petrol ULP 95 by 303.16 c\/l, ULP 93 by 297.42 c\/l, diesel 500ppm and 50ppm by 267.30 c\/l and 271.15 c\/l respectively, while the contribution to illuminating paraffin was 249.77 c\/l.\u201d<\/p>\n<p>The minister said the depreciation of the rand also instigated the price reduction.<\/p>\n<p>In June, the country\u2019s inflation hit a 13-year high of 7.4 percent.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The South African government says it will reduce the pump price of fuel from Wednesday. South Africa\u2019s Minister of Mineral Resources and Energy, Gwede Mantashe said this in a statement.&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":49192,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-97565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>South Africa To Reduce Pump Prices Of Fuel - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/south-africa-to-reduce-pump-prices-of-fuel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Africa To Reduce Pump Prices Of Fuel - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The South African government says it will reduce the pump price of fuel from Wednesday. 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