Ricochet News

Relief at the pumps for motorists on Wednesday as fuel prices drop again

Feb 5, 2018
Relief at the pumps for motorists on Wednesday as fuel prices drop again

The price of petrol is going to drop by 30c per litre on Wednesday, the Department of Energy said, adding that this was because of a stronger Rand during the period under review.

“The Rand appreciated, on average, against the US Dollar (from 13.23 to 12.20 Rand per USD) during the period under review,” the Department said.

“This led to a lower contribution to the Basic Fuels Price (i.e. the import parity price) on petrol, diesel and illuminating paraffin by 52.85c/l, 54.66c/l and 54.88c/l respectively,” the Department said.

The news comes as relief to motorists following numerous petrol price hikes in the months leading to the end of 2017 - the first price drop only happened in January this year.

Diesel will drop by 17 cents a litre while paraffin by 19 cents a litre.

The Department of Energy said that the fuel prices schedule for the different zones will be published on Tuesday.