/ 28 November 2008

Sharp fall in petrol price next week

The retail price of all grades of petrol will decrease by a whopping R1,61 a litre on Wednesday December 3, the Department of Minerals and Energy announced on Friday. This follows the 45 cents drop in November and will be good news on the inflation front.

Diesel prices will also decrease, with 0,05% sulphur falling by 81 cents and 0,005% by 80 cents.

Wholesale paraffin decreases by 75 cents and illuminating paraffin by 100 cents.

Petrol in Gauteng now costs R7,35 a litre from R8,96 before, and it is now R7,11 at the coast from R8,72 before.

During the period under review the average rand/United States dollar exchange rate weakened when compared with the previous period.

The average rand/US dollar exchange rate for the period October 31 2008 to November 27 2008 was 10,1823, compared with 9,5901 during the previous period.

But during the period under review, the average international product prices of petrol, diesel and illuminating paraffin decreased. — I-Net Bridge