The price of petrol decreased by 25 Lisente per litre from midnight.
According to a statement released by the Petroleum Fund on Wednesday, both grades of petrol (petrol93 and petrol95) now cost M13.20.
However, both grades of diesel (diesel500 and diesel50) increased by 5 Lisente per litre while the wholesale price of illuminating paraffin also went up by 5 Lisente per litre. That means paraffin-users now spend M9.55 per litre.
Diesel-users who now spend M13.90 for a litre of diesel500 and M14.20 for a litre of Diesel50.
The statement further shows that the cause of the adjustment is a rise in free-on-board prices for these products, which resulted in unit slate under-recoveries.
The Petroleum Fund has therefore appealed to retailers to charge proper prices because it is illegal to charge prices that are different from the gazetted ones.