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by Institute for Global Dialogue

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Categories: Uncategorised

by Institute for Global Dialogue

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Weak rand takes toll on petrol price

It’s a good time to be the owner of a diesel motor vehicle because, as from Wednesday, the price of diesel will drop significantly while petroleum automobile drivers will not be so fortunate. Diesel with 0.05% sulphur will drop by 76 cents per litre (c/l), and diesel with 0.005% sulphur will go down by 78c, but the price of 95 octane petrol will only fall by 3c/l, while that of 93 octane petrol will not change.

The maximum price of liquid petroleum gas (LPG) will increase by 45 cents per kilogram.

Robert Maake, director of the fuel pricing mechanism at the Department of Energy (DoE), says the reason for the significant decrease in the diesel price is due to the northern hemisphere’s current winter being less cold than usual, leading to a decrease in demand for diesel, which often spikes during this period.

Available: http://www.moneyweb.co.za/news/south-africa/weak-rand-takes-toll-on-petrol-price/ 

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