THE price of petrol is set to decrease by 99 cents a litre on Wednesday. A litre of unleaded petrol will be R12.35 inland and R11.87 on the coast. Diesel will decrease by 74 cents a litre.

The wholesale price for illuminating paraffin will decrease by 66 cents a litre, while the single maximum national retail price for illuminating paraffin will decrease by 88 cents.

The downward adjustments to the prices are mainly due to a stronger rand against the US dollar and an oversupply of refined petroleum products in the global markets.

The decrease follows an announcement by the AA last month who said the fuel price would drop by 83 cents a litre in the wake of the United Kingdom’s vote to exit the European Union.