Petrol and diesel prices are expected to drop tonight at midnight, providing relief for consumers.
As petrol and diesel prices continue to soar, there is a glimmer of hope for consumers.
Prices are expected to drop tonight at midnight, providing much-needed relief for motorists and businesses.
The drop in price is expected to come as a result of crude oil prices during the period under review.,
The price of paraffin will also decrease as gas prices rise.
The Department of Mineral Resources and Energy (DMRE) announced fuel adjustments on Monday that both petrol grades will decrease by 71c, and Diesel 0.05% sulphur will decrease by 80c.
Wholesale illuminated paraffin costs 43c less.
The Single Maximum National Retail price for illuminating paraffin will decrease by 58c, and the Maximum LP Gas Retail Price will increase by 75cent.
The price adjustments will take effect on 12 am tonight.
DMRE said the average international product prices of petrol, diesel, and illuminating paraffin followed the decreasing trend of crude oil prices during the period under review.
In contrast, the price of LPG increased.
Petrol and diesel prices decreased, even though demand increased ahead of the driving season in the Northern Hemisphere.
LPG prices increased due to the increase in Butane prices.
The DMRE added that the decrease in Brent Crude Oil costs also contributed to the lowered cost of petrol and diesel.