Festive cheer for motorists as petrol to drop by R1.22 on Wednesday
This price cut to R13.79 will bring relief after October’s peak of R16.85
The retail price of 93 octane petrol in Gauteng will drop by R1.22 a litre on Wednesday, taking the price to R13.79 a litre, energy minister Jeff Radebe said in a media release on Friday. The retail price of 95 octane petrol in Gauteng is dropping by R1.23 a litre, taking it to R14.01 a litre.
January’s petrol-price drop follows December’s R1.84-a-litre cut, which took the price down from a peak R16.85 a litre in October and November. The SA retail price of petrol is set once a month by the Central Energy Fund, a division of the department of energy. All service stations are required to charge the same price, with different prices inland and at the coast. The price is usually announced on the last Friday of each month, and takes effect on the first Wednesday of each month. The government sets the wholesale price of diesel, but permits the service stations to compete on the profit margin they add. The wholesale price of standard diesel will fall by 155.92c a litre on Wednesday,...