Picture: SYDNEY SESHIBEDI
Picture: SYDNEY SESHIBEDI

The price of 93 and 95 octane petrol is to fall by 13c/l on Wednesday, the energy department said on Monday.

Both grades of diesel will go down by 5c/l.

“The average international product prices for petrol decreased, while that of diesel and illuminating paraffin increased during the period under review,” the central energy fund said in a statement.

However, as the rand appreciated against the dollar between December 27 2019 and January 30 2020, the wholesale and retail prices for illuminating paraffin will fall by 3c/l and 4c/l, respectively.

The price of liquid petroleum gas will be cut by 1c/kg.

The outbreak of the coronavirus in China has reduced economic activity in that country. This has resulted in a drop in international oil prices in late January and early February, while the rand has weakened substantially along with other emerging-market currencies due to the same crisis.

It therefore remains to be seen how things work out in the next review period, beginning on January 31, to guide fuel-price changes at the end of February.