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Fuel price joy for motorists

Mpeshe Selebalo

MASERU — The year 2010 has started on a good note — at least for motorists — after the Petroleum Fund announced that fuel prices will decrease by between 10 to 15 lisente per litre.
As of Friday last week motorists will pay 15 lisente less per litre for both petrol and diesel and 10 lisente less for a litre of domestic paraffin. This comes after some increases in fuel prices in December last year.
According to the Petroleum Fund the main reasons for the price decreases were the current softening of crude oil prices on the international market and the strengthening of the rand, which is pegged one-to-one with the loti, against the US dollar.
These two factors have resulted in petroleum products experiencing unit slate over- recoveries.
Due to differing costs of transporting fuel to different filling station, the prices differ according to region.
For zone 1, which covers the lowlands from Quthing town up to Mount Moorosi and Qacha’s Nek, a litre of petrol will cost M6.75 — down from M6.90. The new price of diesel in this area will be M7.05 per litre, down from M7.20, while a litre of domestic paraffin will now cost M4.85 per litre from the previous M4.95 per litre.
In zone 2, which covers Mphaki the new prices are M6.81 per litre and M7.11 for petrol and diesel respectively. A litre of paraffin costs M4.90 which constitutes a slight cut from the previous price of M5 per litre.
For zone 3, which covers Thaba-Tseka, the price for pump petrol is M6.84 per litre, down from M6.99. A litre of diesel costs M7.14 from the previous M7.29 per litre. The wholesale price of paraffin in Thaba-Tseka will now be M4.93 per litre.
Mokhotlong falls under zone 4 where the pump price of petrol is M6.93 per litre down from M7.08 and diesel will go down to M7.23 per litre from M7.38. A litre of domestic paraffin costs M5.01 which is down from M5.11.
The decrease in petroleum prices comes as a relief to motorists and households which use paraffin as a source of energy. As the opening of schools draws near, any price decrease will surely be welcomed since it is time to pay for both school fees and uniforms.
For companies with large fleets there will be some savings after the decreases.

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