Mbabane: Shortly after the Eswatini Energy Regulatory Authority (ESERA) announced the tariff hike for domestic electricity, the ministry of natural resources and energy has also taken a decision to increase fuel prices again.
Petrol, diesel and illuminating paraffin will have their prices go up by 70 cents per litre, respectively.
The new prices will come into effect at midnight of Thursday, February 04, 2021 (effective Friday, February 5, 2021.
In a statement released by the ministry’s Principal Secretary (PS) Dorcas Dlamini, the increase has been necessitated by the upward movement of international oil prices that have been triggered by the stimulation of global economic activity due to the rolling out of COVID-19 vaccines which has consequently increased the demand for crude oil.
Dlamini said during the January, 2021 period the Brent crude oil prices averaged US$ 53.68 a barrel compared to an average of US$ 50.46 a barrel realised in the month of December, 2020 while the daily average Lilangeni/US Dollar exchange rate weakened to E15.11 in the month of January, 2021 compared to the E15.05 realised in the month of December 2020.
The increase in the fuel prices will be as follows, the Unleaded Petrol (ULP 95) price will increase by 70 cents from E12.45 to E13.15 per litre. Diesel 50ppm Sulphur (0.005 per cent S) price will increase by 70c per litre from E12.90 per litre to E13.60 per litre, and the illuminating paraffin price will increase by 70 cents per litre from E7.95 per litre to E8.65 per litre.
“The ministry encourages the public to use fuel efficiently as the international oil markets and the Lilangeni / Dollar exchange rate remain volatile,” she added.
This is the second time government has taken the decision to increase fuel prices since the COVID-19 outbreak.
On September 02, 2020, petrol and illuminating paraffin were increase by 80 cents per litre, and diesel by 80 cents per litre, this saw the fuel prices going up to as follows; the Unleaded Petrol (ULP 95) price increased by 80 cents from E11.65 to E12.45 per litre. Lead Replacement Petrol (LRP) rose from E11.70 to E12.50 the Diesel 50ppm Sulphur (0.005 per cent S) price increased by 80c per litre from E12.10 per litre to E12.90 per litre, Diesel (0.05%) increased from E12.05 to E12.85 per litre and the illuminating paraffin price increased by 80 cents per litre from E7.15 per litre to E7.95 per litre.
On June 6, 2020 petrol and illuminating paraffin were reduced by 100 cents per litre, and diesel by 80 cents per litre, whereby unleaded petrol (ULP 95) price went down from E12.65 to E11.65 per litre, diesel 50ppm sulphur (0.005 percent S) decreased from E13.90 per litre to E12.90 per litre and illuminating paraffin price decreased from E8.15 to E7.15 per litre.