Petrol price to drop by 20c a litre next Wednesday

The price of petrol is expected to drop by 20 cents per litre effective from Wednesday, 2 October 2013, the Department of Energy announced on Friday, 27 September 2013.

It said the price of 95 unleaded petrol and lead replacement petrol would decrease by 20 cents per litre, 93 unleaded petrol and lead replacement petrol would decrease by 19 cents per litre. Both grades of diesel would decrease by 2 cents per litre.

Illuminating paraffin wholesale will cost 4 cents per litre less and illuminating paraffin (Single Maximum National Retail price) will decrease by 5 cents per litre.

The Maximum Retail Price for LPGAS will decrease by 40 cents per kilogram.

Many motorists anticipate a bigger price hike in the near future. Several were in agreement in their laments to St Francis Chronicle that: “A steeper petrol price hike often follows a decrease in the price of fuel.”

(Read the article why we keep paying more for petrol in South Africa):

The department said one of the reasons for the decrease in petrol prices was the lower oil prices.

“The big news affecting the oil price and hence international product prices over the past month was the threatened military strike on Syria which pushed Brent oil price to a six- month high on the 29 August 2013. This risk has dissipated over the course of September and the oil price has fallen.

“The spectre of world economic growth has become the focus again. The Brent oil price spiked to US$118.86 a barrel on 30 August 2013 and ended at US$112.17 a barrel on 23 September 2013.”

The Minister of Energy Ben Martins has approved that the retail margin on all grades of petrol be increased by 4.9 cents per litre with effect from 2 October to accommodate the salary increase for petrol attendants.

The 4.9 cents per litre will be ring-fenced to pay the wages of the forecourt attendants, said the department. 

The three-week strike by petrol attendants over wage increases ended on Friday.

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