SA cuts petrol price; no local relief

SOUTH Africa's retail petrol prices are set to fall by 31 cents a litre because of lower global petroleum prices, the South African government said on Friday. The price of petrol is to be reduced from Wednesday, the SA Department of Minerals and Energy said.

The prices of diesel and illuminating paraffin will be reduced by

one cent a litre.

South Africa's partially subsidised domestic petrol prices have

a big impact on inflation, accounting for 4,7 per cent of the

targeted consumer price index.

 

According to News24, the latest cut means that South African

petrol prices will cool down from record-high levels of over R6 a

litre of 93 octane petrol in Gauteng to R5,72 a litre, while at the

coast motorists will now fork out just under R5,60 a litre.

 

However, Namibian consumers will have to wait a little longer to

find out if local prices will follow suit.

 

Mines and Energy Permanent Secretary Joseph Iita felt it was

doubtful.

 

He said yesterday that the local oil industry had been operating

at a loss and a reduction was unlikely.

 

Iita said any decision would only be announced in mid-November,

when fuel prices would be discussed at the Ministry's monthly

meeting.

 

He added that consumers should be prepared for any kind of

adjustments, as "fluctuations are normal economic situations".

 

At the end of September, Namibian fuel prices were increased for

the second time within a month.

 

Petrol increased by 40 cents a litre, while diesel went up by 39

cents.

 

The latest Walvis Bay pump prices are: 93 octane petrol at

N$5,17 a litre, 95 octane leaded petrol at N$5,19 a litre and

diesel at N$4,93 a litre.

 

There were no increases this month.

 

- Nampa-Reuters and Own Reporter

 

South Africa's partially subsidised domestic petrol prices have a

big impact on inflation, accounting for 4,7 per cent of the

targeted consumer price index.According to News24, the latest cut

means that South African petrol prices will cool down from

record-high levels of over R6 a litre of 93 octane petrol in

Gauteng to R5,72 a litre, while at the coast motorists will now

fork out just under R5,60 a litre.However, Namibian consumers will

have to wait a little longer to find out if local prices will

follow suit.Mines and Energy Permanent Secretary Joseph Iita felt

it was doubtful. He said yesterday that the local oil industry had

been operating at a loss and a reduction was unlikely.Iita said any

decision would only be announced in mid-November, when fuel prices

would be discussed at the Ministry's monthly meeting.He added that

consumers should be prepared for any kind of adjustments, as

"fluctuations are normal economic situations".At the end of

September, Namibian fuel prices were increased for the second time

within a month.Petrol increased by 40 cents a litre, while diesel

went up by 39 cents.The latest Walvis Bay pump prices are: 93

octane petrol at N$5,17 a litre, 95 octane leaded petrol at N$5,19

a litre and diesel at N$4,93 a litre.There were no increases this

month. - Nampa-Reuters and Own Reporter

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