MOTORISTS are in for a relief this month as the petrol price is set to decrease by between 24 and 22 cents on Wednesday, 5 April. The Department of Energy on Saturday announced that petrol prices would come down, with a litre of 95 ULP and LRP set to drop by 24 cents a litre.

The price for a litre of 93 ULP and LRP will drop by 22 cents a litre, while that of diesel sulphur will drop by 10.50 cents a litre. The Single Maximum National Retail Price (SMNRP) for illuminating paraffin will see a 65 cents a litre decrease.

Meanwhile, the maximum retail price for liquefied petroleum gas will decrease by R1.

The department said the average international product prices of petrol, diesel and illuminating paraffin decreased during the period under review.

Read also: 10 petrol saving tips

Briefing media following the Monetary Policy Committee (MPC) meeting on interest rates, Reserve Bank Governor Lesetja Kganyago said the petrol price was likely to drop in April due to international oil prices having declined.

“The impact on the domestic petrol price will be evident in April when a reduction is expected, despite the 39 cents increase in the Road Accident Fund and fuel levies provided for in the February budget,” said Kganyago on Thursday.