By Tom Head for The South African
For the third month in a row, the petrol price has decreased in South Africa. March will see the following substantial changes to fuel costs.
A substantial drop for both the diesel and petrol price in South Africa has put our motorists in a good mood at the start of March.
Confirmed petrol price for March 2020
Petrol getting cheaper, but so is diesel and illuminating paraffin:
- Petrol: Decrease of 19 cents per litre
- Diesel: Decrease of 54 cents per litre
- Paraffin:Decrease of 68 cents per litre
Subtracting these totals from February’s fuel price gives us the following average cost-per-litre for petrol and diesel. These prices will take effect from Wednesday 4 March:
- Inland petrol price – R15.84
- Coastal petrol price – R15.07
- Inland diesel price – R13.49
- Coastal diesel price – R14.03
Why is the petrol price dropping in March?
There are, as ever, two major factors at play. However, it’s the global oil price trends that have accounted for this slashing of fuel costs. The outbreak of the coronavirus has left international markets spooked, and the demand for oil has subsided. The decrease would have been more, if not for the Rand’s weak monthly performance against the US dollar. Despite a brief rally this week, ZAR is still floundering.
The honeymoon period is unlikely to last through to April, however. It was announced during February’s budget speech that taxes on fuel would be rising, making petrol prices more expensive.