Relief at the pump for motorists

4 June 2012

The price of all grades of petrol will decrease by 55 cents a litre this week, and could drop even further next month, according to Investment Solutions economist Chris Hart.

The Department of Energy announced on Friday that a litre of 95 ULP (unleaded petrol) in Gauteng will cost R11.67 from Wednesday on the back of lower international prices.

The price of diesel with a 0.05 sulphur content will decrease by 24.82 cents a litre. Diesel with a 0.005 percent sulphur content will also decrease by the same amount.

The wholesale price of illuminating paraffin will drop by 21 cents a litre.

The single maximum national retail price for illuminating paraffin will decrease by 28 cents a litre, and the maximum retail price for LP Gas by 99 cents a kilogram.

The average international prices of petrol, diesel and illuminating paraffin had decreased, the department said.

Economist Chris Hart said the drop in the international crude prices and the rand complemented each other.

“The fuel prices have been going up relentlessly for the past year,” Hart said.

“This is a nice relief, and it could well be that its followed up by further relief at the beginning of next month, because the global crude prices have actually come down even further.”