Categories: South Africa

Decline in fuel prices bring temporary relief

Diesel prices will decrease by about 10.50c/ℓ, while petrol prices will drop by about 24c/ℓ on 5 April, bringing the price of 95 octane petrol to R13,30/ℓ and the price of diesel to R11,50/ℓ in Gauteng.

Wandile Sihlobo, Agbiz head of economic and agribusiness intelligence, welcomed the decline, saying it would bring relief to farmers who were currently harvesting their crops in the summer rainfall areas, and to those in the winter rainfall areas that were preparing to plant.

He expected prices to increase again by May due to the recent cabinet reshuffle, which has caused the rand to weaken against the US dollar.

“The drop in fuel prices was caused by the strengthening of the rand and an increase in global oil stocks, primarily due to US shale gas production. The rand has, however, fallen sharply against the US dollar since the cabinet reshuffle, and Brent crude prices are also expected to recover due to the Organisation of Petroleum Exporting Countries’ decision to cut their production of crude oil with 1,8 million barrels per day.”

Published by
Glenneis Kriel

Recent Posts

50 000 visitors for Poland’s largest food fair

More than 50 000 visitors attended the recent Polagra Food and Polagra Tech International Trade Fair for food and catering…

4 days ago

Take action today, help build up the image of farmers

Farmers are often unfairly targeted for societal and environmental ills. It’s time to fight back.

5 days ago

Stone fruit production set to increase, despite drought

The South African stone fruit industry is forecasting improved volumes for the 2019/2020 season compared with last year.

6 days ago

Quick pork & asparagus stir-fry

There’s real joy to be experienced in the production of this meal. It is quick and simple enough for the…

6 days ago

Limpopo nut farm – a shining example of worker empowerment

Springfield Farm has invested in learnerships for its workers, has an open-door policy for agriculture students, and offers mentorships to…

6 days ago

Crippling livestock losses due to Namibian drought – reports

Extreme drought conditions have reportedly claimed the lives of more than 60 000 head of livestock in Namibia so far…

7 days ago