Motorists will wake up to higher fuel prices tomorrow (March 7) as the Ministry of Natural Resources and Energy has announced an 80-cent increase across all fuel products. The new prices take effect at midnight, raising concerns among consumers already grappling with the rising cost of living.

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New Fuel Price Structure

1. Unleaded Petrol
   • Previous Price: E19.80 per litre
   • New Price: E20.60 per litre
   • Approx. Increase: 4.0%
2. Diesel
   • Previous Price: E20.20 per litre
   • New Price: E21.00 per litre
   • Approx. Increase: 3.96%
3. Paraffin
   • Previous Price: E19.00 per litre
   • New Price: E19.80 per litre
   • Approx. Increase: 5.5%

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Reasons for the Increase

According to a statement released by the Ministry, several factors contributed to the 80-cent hike:

• Rising Global Oil Prices: International crude oil prices have remained volatile, pushing up costs for fuel importers.
• Exchange Rate Fluctuations: The Lilangeni/Dollar exchange rate has seen unfavorable movements, adding pressure to local fuel prices.
• Supply and Demand Dynamics: As global economies continue to recover, increased demand for fuel has tightened supply, further influencing prices.

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Public Reaction and Concerns

Some consumers have expressed alarm that while a few neighboring countries report stable or reduced prices, Eswatini is experiencing consecutive increases. The Ministry has clarified that each country’s pricing is influenced by its own unique economic factors, including tax regimes and currency valuations.

“We understand the impact this has on consumers,” a spokesperson from the Ministry said. “However, global market forces remain beyond our direct control. We are monitoring the situation closely and will make adjustments if the global oil market stabilizes.”