Petrol price cut set for December

The retail price of all grades of petrol will decrease by nine cents per litre (c/l) on Wednesday December 5‚ the Department of Energy announced on Friday (30 November).

The price of 0.05% sulphur diesel will cost five c/l less while that of 0.005% sulphur diesel will fall by six c/l.

Although the international product prices increased during the current fuel price review period‚ the increases were cushioned by the very high unit over-recoveries which were realised at the start of the current fuel price review period.

The department noted that the average unit over recoveries were still realised on all fuels.

The fuel price decreases would have been more had the department not implemented margin increases.

The Miniser of Energy approved increases in the retail margin of petrol of 3.9 c/l from 95.3 c/l to 99.2 c/l‚ as well as an incrase in the wholesale margin applicable to petrol‚ diesel and IP – from 5.5 c/l from 52.5 c/l to 58.0 c/l – and an increase of 4.5 c/l from 21.0 c/l to 25.5 c/l in the case of the Service differential applicable to petrol‚ diesel and IP.

The average rand/dollar exchange rate weakened when compared to the previous period.

The average rand/dollar exchange rate for the period 2 November to 29 November was 8.8252 compared to 8.6479 during the previous period.

Petrol 95 ULP octane in Gauteng will now cost R12.01 a litre‚ while at the coast it will cost R11.66 per litre.

The Single Maximum National Retail price for illuminating paraffin will decrease by 5 c/l.

The maximum retail price for liquid petroleum gas will decrease by 35 cents per kilogramme.

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Petrol price cut set for December