Ricochet News

Petrol price falls by 5 cents

SEPTEMBER 30, 2014
Petrol price falls by 5 cents

The retail price of 95-grade petrol in South Africa will drop by 5 cents a litre from Wednesday, while wholesale diesel will decrease by 1 percent, the Department of Energy said on Friday.

The price of octane 93 petrol will increase by two cents a litre.

Petrol will cost 13.61 rand a litre while the wholesale diesel price will be set at 12.46 rand in the main Gauteng inland region, the department said in a statement.

The price of diesel would decrease by 13 cents a litre, and that of illuminating paraffin wholesale by 14 cents a litre.

The price of LP Gas would increase by 12 cents a kilogram.

The new prices would come into effect on Wednesday.

According tot he Central Energy Fund, the main factors contributing to the decrease in most fuel categories is due to international prices decreasing over the review period.

However, the Rand/US Dollar exchange has also weakened significantly in recent weeks, which increased the contribution to the basic fuels price – explaining the slight increase in 93 octane fuel.

The average Rand/US Dollar exchange rate for the period – 29 August 2014 to 25 September 2014 – was R10.91 compared to R10.68 during the previous period, the CEF said.