The price of petrol is be reduced by 31 cents per litre from Wednesday November 2, the Department of Minerals and Energy announced on Friday.
The price of diesel and illuminating paraffin will also be reduced, by one cent per litre.
The department said that during the period September 30 to October 27, the average international product prices for petrol, diesel and illuminating paraffin decreased.
This was despite a weakening in the average rand/dollar exchange rate from R6,378 to R6,5734.
The cut means that petrol prices in Gauteng drop from a record high of more than R6 a litre for 93 octane petrol to R5,72 a litre. Motorists at the coast will pay less than R5,60 a litre. — I-Net Bridge