New Year cheer as petrol price set to drop

The retail price of petrol will decrease by between R1,34 and R1,37 a litre—depending on the grade—on Wednesday January 7, the Department of Minerals and Energy announced on Friday.

This follows a drop of R1,61 a litre last month and 45 cents the previous month.

91 octane petrol is being decreased by R1,37 a litre, 93 octane by R1,36 and 95 octane by R1,34 a litre.

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

The average rand/US dollar exchange rate for the period November 28 2008 to January 1 2009 was 9,9518 compared with 10,1823 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

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