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Fuel price to drop by 13 to 15 cents

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Johannesburg‚ Dec 27 (I-Net Bridge) - The retail price of petrol will decrease by between 13 and 15 cents per litre on Wednesday January 2‚ the Department of Energy announced on Thursday.

The price of 93 grade petrol will fall by 13 cents a litre‚ and that of 95 grade petrol by 15 cents a litre.

The price of 0.05% sulphur diesel will cost 27.58c/l less while that of 0.005% sulphur diesel will fall by 28.58c/l.

The international product price of petrol increased slightly by 2.21c/l while that of diesel and illumintaing paraffin declined by 10c/l and 6c/l respectively.

The average rand/dollar exchange rate strengthened when compared to the previous period. The average rand/dollar exchange rate for the period 30 November to 26 December was 8.6833 compared to 8.8252 during the previous period.

The strenghthening of the rand versus the dollar decreased the contribution to the basic fuels price on petrol‚ diesel and illuminating paraffin by 11c/l‚ 11.71c/l and 11.7c/l respctively.

Petrol 95 ULP octane in Gauteng will now cost R11.86 a litre‚ while at the coast it will cost R11.51 per litre.

The Single Maximum National Retail price for illuminating paraffin will decrease by 23c/l.

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