Petrol set for big drop

THERE’S good news for consumers as it’s expected the petrol price will fall by about 70c a litre on December 3, according to the latest calculation by the Department of Energy.

This follows a decrease of 45 cents a litre earlier this month.

The expected decrease was largely due to the decline in the international oil price, which was marginally offset by the weaker rand against the US dollar, Marius Luyt, an AA spokesman, said.

“Over the past 15 days, the international oil price has dropped by 10 percent. On the other hand, the rand has only weakened slightly,” Luyt added.

As a result, the AA expected the price of petrol to drop by between 69 and 72 cents a litre on the first Wednesday of December, he said.

Diesel might fall by around 50 cents, while illuminating paraffin could drop by 44 cents a litre, according to Business Report. – Staff Reporter