Petrol to drop 28c

Weekend Argus (Saturday Edition) - - NEWS - SOYISO MALITI AND SAPA

THERE’S some respite ahead for mo­torists, with news that the price of petrol will de­crease by 28c a litre from mid­night on Tues­day.

The re­tail prices of all grades of petrol, the whole­sale prices of both grades of diesel, il­lu­mi­nat­ing paraf­fin, and the max­i­mum re­tail prices of liq­uid petroleum gas would de­crease, the En­ergy Depart­ment said yes­ter­day.

The de­crease comes af­ter the in­ter­na­tional petroleum prod­uct prices de­creased, on av­er­age, com­pared to the pre­vi­ous pric­ing re­view pe­riod.

The av­er­age rand/US dol­lar ex­change rate de­creased from just over R10 to R9.93

Mama Taxi

dur­ing the cur­rent fuel price re­view pe­riod. The strength­en­ing of the rand against the dol­lar con­trib­uted to the de­crease in the ba­sic fuel price.

Dawie Roodt, Ef­fi­cient Group’s di­rec­tor and chief econ­o­mist, agreed that the de­crease in the price of oil, com­bined with the rand’s re­cent per­for­mance against the dol­lar, were be­hind the drop.

“But the main rea­son is the oil price,” Roodt said.

Roodt warned that the respite would be short­lived, say­ing the petrol price was likely to in­crease next month.

He also pre­dicted that the year could end with the cost of petrol be­ing as high as its high­est point this year.

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