A little relief for cash strapped consumers with the price of fuel going down substantially from today.
By Tšepo Thibankoe
The Petroleum Fund yesterday announced decreases in retail and wholesale prices for petrol, diesel and domestic paraffin.
Both diesel and petrol have dropped by 70 Lisente per litre while domestic paraffin now costs up to 45 Lisente less.
“The Petroleum Fund Secretariat wishes to inform the public that the prices of petroleum products will be adjusted effective from Friday, July 05, 2019. The pump prices of both grades of petrol (petrol 93 and petrol 95) will be decreased by seventy (70) lisente per litre,” Petroleum Fund said in a statement on Thursday.
The statement added that: “The pump prices of both grades of diesel (diesel 500 and diesel 50) will be decreased by seventy (70) lisente per litre and the wholesale price of illuminating paraffin will be increased by forty-five (45) lisente per litre.”
It said the main reason for the decreases have been the drop in free-on-board prices for these products, which have resulted in unit slate over-recoveries.
Petroleum Fund also appealed to “all retailers” to charge proper prices because “it is illegal to charge prices that are different from the gazetted ones”.
It said there have been tendencies in the past by some retailers of 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.”
The new Retail Prices for all the districts of Lesotho shall be as follows:
Petrol 93 M 12.50 per litre
Petrol 95 M 12.55 per litre
Diesel 500 M 13.20 per litre
Diesel 50 M 13.50 per litre
Domestic Paraffin (Wholesale) M 9.10 per litre