Petrol price to drop at midnight
Will the drop in the petrol price benefit consumers?
The energy department has confirmed that the price of petrol will decrease by R1.27 a litre at midnight.
Diesel will decrease by R1.05 a litre, with illuminating paraffin decreasing by R1.44 a litre and liquefied petroleum gas (LPG) decreasing by R2.10 a kilogram.
Minister of energy, Tina Joematt-Pettersson said in a press release that this huge decrease in the fuel prices would be a big relief to motorists and users of LPG and paraffin, in particular the low-income households.
It is reported the main reason for the fuel price decreases is the continued drop in the price of crude oil which led to a decrease in the prices of petroleum products in the international markets.
However, the depreciation of the rand against the US dollar led to an increase in the contribution to the Basic Fuel Price by between 17.92 c/l and 19.75 c/l.
This was off-set by the drop in the crude oil price during the period under review.
Do you feel the drop in the petrol price will benefit consumers?
