Johannesburg | Tuesday
SOUTH Africa’s Department of Minerals and Energy confirmed on Tuesday that the retail price of petrol would be cut by 19 cents from August 1 in line with falling international crude oil prices.
Wholesale paraffin prices would fall by two cents a litre and diesel by four cents a litre, said departmental representative Kanyo Gqulu.
Petrol, a key component in domestic inflation, retails in the main Gauteng market at 396 cents compared to 373 cents at the end of last year, following a four cent price cut at the start of this month.
Gqulu said the latest cuts reflected falling crude oil prices, which dropped by $3 a barrel between June and July. – Reuters