Petrol and diesel prices as at 29 January 2021

Fuel prices rose 4 cents per litre (cpl) in mid-Jan, after oil prices reached their highest level in nearly 12 months (pre-lockdown), which was partly attributed to positive global economic signals. But new strains of Covid-19 and some countries re-entering lockdown may reverse some of that. As it is, later in the month, the national petrol price fell 5cpl, and diesel 7cpl.

Despite these cuts, oil prices have not fallen much, and are more than double what they were in the middle of lockdown. While oil prices are on a par with February 2020, refined fuel commodity prices are lower and so today’s retail prices are much lower than a year ago (91 petrol was $2.30/litre and diesel $1.64/litre), helped by a higher exchange rate (and despite a tax increase), while margins are noticeably lower now too.

Petrol and diesel prices as at 29 January 2021
  National fuel price
91 Octane 199.9
Diesel 120.9

 

Previous prices as at 17 December 2020
  National fuel price
91 Octane 200.9
Diesel 123.9

 

 

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