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Relief for motorists as fuel price reduced

Bereng Mpaki

LOCAL motorists were on Friday given some measure of relief following heavy festive spending when fuel prices went reduced in a development that was attributed to the firming of the South African Rand currency against the American greenback.

A statement by the Petroleum Fund Secretariat revealed that the prices of petroleum products had declined with effect from 12 Friday, 2018.

The price petrol93 has gone down by 45 lisente per litre while that of petrol 95 has gone down by 55 lisente. Both grades of diesel have gone down by 40 lisente while paraffin has gone down by 35 lisente.

This means the new retail prices for all the districts of Lesotho shall be as follows: petrol93 is M11.15; petrolo95 is also M11.15; diesel500 is M11.49; diesel50 is M11.65 while the wholesale price of illuminating paraffin is M8.15 per litre.

“The Petroleum Fund Secretariat wishes to inform the public that the …pump prices of pertol93 should be decreased by 45 lisente per litre, petrol95 should be decreased by 55 lisente per liter,” part of the statements reads.

“The pump prices of both grades of diesel (diesel500 and diesel50) should be decreased by 40 lisente per litre, the wholesale price of illuminating paraffin should be decreased by 35 lisente per litre.”

The statement further showed that the main reason for the decrease in prices was the appreciation of the South African Rand (to which the Loti is tied) against the US Dollar.

“The petroleum fund wishes to appeal to all retailers to charge proper prices because it is illegal to charge prices that are different from gazzetted ones.

“There have been tendencies in the past by some retailers charging prices that are above those set, this should not happen, and any retailer who will be found in contravention of this shall be prosecuted accordingly.”

A toll free number, 80022004, has been set up to report any suspected non-compliance by retailers.


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