Petrol price to drop

The price of all grades of petrol will drop by 27 cents a litre on June 2, the Energy Department said on Friday.

The wholesale price of diesel with a 0,05% sulphur content would decrease by 15 cents a litre.

Diesel with a 0,005% sulphur content would also drop in price by 15 cents a litre.

The wholesale price of illuminating paraffin would decline by 13 cents a litre, while the single maximum national retail price for illuminating paraffin would drop by 12 cents a litre.

A litre of petrol 95 ULP in Gauteng will now cost R8,45.

The department said the average international product prices of petrol, diesel and illuminating paraffin decreased between April 30 and May 27.

However, the average rand/US dollar exchange rate weakened when compared to the previous period.

“The average rand/US dollar exchange rate for the period under review was 7,6575 compared with 7,3749 during the previous period.”

Regarding the date of fuel price adjustments in July, the department said that in line with the working rules to administer the basic fuel price, the next fuel price changes had to be effected on Wednesday July 7.

However, Energy Minister Dipuo Peters had decided that, to stabilise fuel prices during the Soccer World Cup, the next fuel price changes would be effected only on Wednesday July 14, the department said.—Sapa

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