FUEL UP BY 90 CENTS

MBABANE – Motorists will wake up this morning to shocking new fuel prices. This was after the Ministry of Natural Resources and Energy announced yesterday that, with effect from midnight on Thursday (yesterday) fuel prices would increase by 90 cents per litre across the board.

In a press release signed by the Principal Secretary, Stephen Motsa, the ministry said the prices of petrol, both Unleaded Petrol (ULP 95) and Lead Replacement Petrol (LRP 95), diesel and paraffin would increase by 90 cents.

“The UPL 95 petrol price will increase from E12.00 per litre to E12.90 per litre while the LPR 95 petrol price will increase from E12.05 to E12.95 per litre.  Paraffin price will increase from E9.40 per litre to E10.30 per litre,” said Motsa.

Prices

He said the increase in the fuel prices was mainly a result of the crude oil prices which had increased significantly and the weakening Lilangeni/Dollar exchange rate experienced over the period March to July 2014. The last fuel price increment was in March 4, 2014.
“Although there have been some slight improvements in the crude oil prices and the Lilangeni/Dollar exchange rate in the month of July 2014, the country has, however, had cumulative deficit in the fuel products, which necessitates this imminent price increase,” Motsa said.

He further said the public should graciously note that in spite of these unfortunate increases, the local prices were still relatively lower than those of neighbouring states.

Motsa further said the ministry would continue with its mandate to closely monitor the fuel price situation. “The public is humbly advised to use fuel in a more effective and efficient manner as international oil markets remain volatile,” he said.

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