/ 27 August 2010

Good news for motorists as petrol price drops

The price of all grades of petrol will drop by 10 cents a litre on Wednesday, the energy department said on Friday.

The wholesale price of diesel with a 0,05% sulphur content would remain unchanged, while the price of diesel with a 0,005% sulphur content would increase by 2c a litre, the department said.

The wholesale price of illuminating paraffin would decline by 5c a litre, while the single maximum national retail price for illuminating paraffin would drop by 7c a litre.

The maximum retail price for liquid petroleum gas (LPGAS) would decrease by 26 cents per litre only in Gauteng.

A litre of 95 ULP in Gauteng would now cost R8,07 per litre.

The department said that during the period under review — July 30 to August 26 — the average international product prices of petrol, diesel and illuminating paraffin had increased.

“The average rand/US dollar exchange rate strengthened when compared with the previous period,” the department said.

The average rand/US dollar exchange rate for the period was 7,3178 compared to 7,5757 during the previous period. — Sapa