Petrol and diesel prices to decrease by 8c/l and 2c/l on Wednesday
The Department of Energy says the rand appreciated against the dollar leading to a lower contribution to the basic fuels price
The price of petrol is to decrease by 8c/l on Wednesday, March 1, the Department of Energy announced on Friday. This is for both the 93 and 95 grades of petrol. Diesel will drop by 2c/l, while the wholesale price of illuminating paraffin will decrease by 8c/l. A litre of 95-octane petrol will now cost R13.54 in Gauteng and R13.06 in coastal areas. The department said the international product prices of petrol, diesel and illuminating paraffin had increased during the review period from January 27 to February 23. "The rand appreciated against the dollar during the period under review, on average, when compared to the previous period," it said. "The average rand/dollar exchange rate for the period January 27 2017 to February 23 2017 was 13.2899 compared to 13.5831 during the previous period. This led to a lower contribution to the basic fuels price on petrol, diesel and illuminating paraffin by 13.44c/l and 12.80c/l respectively."
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