Fuel price cuts from Wednesday

From Wednesday morning, 93 petrol will be 23 c/l lower, while 95 petrol will decrease by 32c/l. Diesel will be lowered with some 90c. This is thanks to a stronger rand last month, and a falling oil price. The Brent crude oil price fell from an average of $44.78 per barrel in August to $40.82 in September, while the average rand level was R17.28 in August, and R16.72 in September.

On Monday, oil prices rebounded as US president Donald Trump’s doctors suggested that he could be discharged from hospital today. Trump’s illness triggered uncertainty in the market. Brent crude oil was back above $40 a barrel. The rand was trading firmer at R16.44/$.