Petrol: Price could drop by 31 cents soon

2008-07-31 00:00

The petrol price is expected to drop by about 31 cents a litre on Wednesday due to the softening in the oil price in July and a strengthening in the rand in relation to the dollar, Dynamic Wealth senior economist Johan van Tonder told The Witness.

Diesel prices are expected to drop by about 20 cents a litre.

The department of Minerals and Energy is expected to announce the fuel price changes today. The price of paraffin is not expected to change.

The petrol price may drop again by 80 cents a litre in September if the oil price remains at around $120 a barrel and the rand remains at about R7,40 to the dollar. “In addition, the price of diesel may drop by R1,13 cents a litre should the above conditions be met.”

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