Fuel price drops

2015-08-05 06:00

ALL grades of petrol will cost 51 c a litre less from Wednesday (05/08), the Department of Energy announced on Friday (31/07).

Diesel 0,05% sulphur and diesel 0,005% sulphur will decrease by 75,82 c and 73,82 c respectively, while liquefied petroleum gas (LPG) will decrease by 56,0 c/kg, illuminating paraffin (wholesale) by 70 c/l, and illuminating paraffin (SMNRP) by 93 c/l.

The department said the average international product prices of petrol, diesel and illuminating paraffin decreased during the period under review, while the rand on average weakened against the US dollar, compared to the previous period.

“The average rand/dollar exchange rate for the period 26 June to 30 July was 12,4128 compared to 12,3196 during the previous period. The weakening of the rand against the US dollar increased the contribution to the Basic Fuels Price on petrol, diesel and illuminating paraffin by 4,87 c/l, 4,25 c/l and 4,19 c/l respectively.”

Debt Rescue CEO Neil Roets cautioned on Friday that the relief could be short-lived, taking into account that other economic indicators remained largely negative.

“A decrease may be of a very temporary nature as the rand is taking a hammering, having decreased in value against the dollar by more than 10% since the beginning of the year. This past week alone it has dropped by more than 1,5%,” said Roets

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