South African Fuel Prices to Drop Tomorrow

JOHANNESBURG – There’s more good news for South Africans as both grades of petrol are set to come down tomorrow. The retail price of petrol in the country will decrease by 0.8% from Nov. 6, while the price of wholesale diesel will fall by 1.1%, the energy department said on Tuesday.

The price of petrol will decrease by 13 cents to R16.08 rand ($1.09) per litre in the commercial hub of the Gauteng province, while diesel will go down by 16 cents to 14.68 rand per litre.

The price of illuminating paraffin (wholesale) will decrease by 23 cents per litre, while that of illuminating paraffin (SMNRP) will come down by 31 cents a litre.

The Maximum Retail Price for LPGAS will decrease by 30 cents per kilogram.

The department said average international product prices for petrol, diesel and illuminating paraffin decreased during the period under review.

“The Rand appreciated on average against the US Dollar during October month. However, the average Rand / US Dollar exchange rate for October (14.93 R/USD) was higher than that of September (14.84 R/USD) 2019.”

“This led to a higher contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by more than four cents per litre (4.00 c/l),” it said.

At the end of October, the Automobile Association (AA) predicted a petrol price drop in October.

In October the price of petrol rose by between 18 and 4 cents a litre while in September both grades of petrol rose by 11 cents.

(Reporting by Mfuneko Toyana; Editing by Himani Sarkar)