Africa-Press – Eswatini. The price of Diesel (50 ppm) will decrease by 60 cents with effect from tomorrow.
Ministry of Natural Resources and Energy Principal Secretary Dorcas Dlamini disclosed the decrease, which means the price of diesel (0.005 per cent S) will be reduced from E25 per litre to E24.40.
Dlamini said the price of unleaded petrol 95 and illuminating paraffin would remain unchanged.
The new prices therefore mean unleaded petrol (ULP 95) price continues to be E21 per litre and illuminating paraffin will continue to be charged at E18.45 per litre.
When explaining what culminated in the partial fuel pricing structure review, Dlamini mentioned that crude oil prices traded at an average of US$93.38 in November from an average of US$91.05 a barrel realised in the month of October.
She said the lilangeni/dollar exchange rate slightly appreciated and averaged E17.68 in November, compared to the E18.04 realised in the month of October.
“The international demand for diesel dropped in the world markets in the month of November, and this has led to a low price of diesel internationally. As a result, diesel is carrying an over-recovery (profit,) hence necessitating a price decrease,” said Dlamini.
The ministry encouraged the public to use fuel efficiently as the international oil markets and the lilangeni/dollar exchange rate remain highly volatile.
Drop
The diesel price drop comes hardly a month after it was increased by E1.50 per litre while the price of unleaded petrol 95 and illuminating paraffin remained unchanged.
The diesel price increase came into effect at midnight.
When the hike was announced, Dlamini had explained that international demand for diesel had increased in the world markets and this led to a high price of diesel internationally.
“As a result, diesel is carrying a huge under recovery /deficit hence necessitating a price increase,” Dlamini explained.
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