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Fuel price update: more good news for diesel drivers

02.02.2016

The Department of Transport has announced that as of 3 February 2016 the wholesale price of diesel will decrease by 62 cents per litre for 50ppm and 63 cents per litre for 500ppm. The price of both 95 and 93 Octane will increase by 6 cents per litre.

The reason for the decrease in diesel prices is the oversupply of middle distillates such as diesel in the global market. This is mainly due to the fact that the Northern Hemisphere experienced mild winter season compared to previous periods. China contributed to the situation by exporting diesel into the market.

On the other hand, the increase in the petrol price is mainly due to tightness in the market because some major refineries in the USA were on unplanned shutdown. The weakening of rand against the US Dollar contributed massively to the current fuel price adjustment.

Article written by Autodealer
02.02.2016
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