According to the Department of Minerals and Energy, the wholesale price of diesel will drop by 5 cents a litre, while illuminating paraffin is set to increase by 14 cents.
The increase, the department said, was due to the average Rand/US Dollar exchange rate which had strengthened when compared to the previous period.
“The average Rand/US Dollar exchange rate for the period 2 January 2009 to 29 January 2009 was 9.9332 compared to 9.9518 during the previous period.”
Last year, petrol price decreased by a whopping R1.61
At the time, the department said the decrease was due to the economic factors affecting the over/under recoveries for the period between 31 October and 27 November 2008.
Article published courtesy of BuaNews
