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New year to kick off with drop in petrol prices

Petrol prices will decrease on Wednesday. File photo.
Petrol prices will decrease on Wednesday. File photo.

Good news for consumers is that the price of petrol will decrease on Wednesday.

The Central Energy Fund announced that 95 octane petrol will decrease by 14 cents a litre and 93 octane by 4c/l.

The price of diesel however will increase by 9c/l. and that of illuminating paraffin by 5c/l.

The CEF said the average international product prices for petrol had decreased during the period under review while those for diesel and illuminating diesel had increased.

The rand appreciated against the US dollar during the period under review, on average, when compared to the previous period. The average rand/US dollar exchange rate for the period November 29 2019 to December 26 was R14.4784 compared R14.8037 during the previous period.

“This led to a lower contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 15.70 c/l, 16.78 c/l and 16.64 c/l respectively,” the CEF said.

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