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BizTrends 2017

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Petrol price to drop

The retail price of all grades of petrol will drop by 9c/litre from this Wednesday, the Department of Energy announced on Friday.
Diesel with 0.05% sulphur will decrease by 5c/litre, while diesel with 0.005% sulphur will drop by 6c/litre.

The wholesale price of illuminating paraffin will see a decrease of 4c/litre, and the Single Maximum National Retail Price (SMNRP) for illuminating paraffin will go down 5c/litre.

The Maximum Retail Price for LP Gas will decrease by 35c/kg.

The department said the decreases mainly emanated from a decrease in the price differentials between crude oil and refined petroleum products, lower international product prices and a weaker rand/dollar exchange rate.

During the current fuel price review period, the international product prices of petrol, diesel and illuminating paraffin, on average, decreased by 38.6c/litre, 37.2c/litre and 29.0c/litre respectively.

This is also due to the average rand/dollar exchange rate which deteriorated by almost 14c during the current fuel price review.

SOURCE is a South African government news service, published by the Government Communication and Information System (GCIS). (formerly BuaNews) was established to provide quick and easy access to articles and feature stories aimed at keeping the public informed about the implementation of government mandates.
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