Petrol Price in South Africa is expected to reduce on Wednesday by 69 cents according to the information released by the country’s Department of Energy as published on SANews.
According to the department, “The wholesale price of diesel, 0.05% sulphur and 0.005% sulphur, will increase by 15.00c/l and 14.00c/l respectively and the wholesale price of illuminating paraffin will increase by 17.00c/l and the single maximum national retail price (SMNRP) will increase by 23.00c/l with effect from 2 March 2016,”
The maximum retail price of liquid petroleum gas (LPGas) will decrease by 120.00c/kg.
According to the department, the average international product prices of petrol decreased while diesel and illuminating paraffin increased during the period under review.
The crude oil price increased on average compared to the previous pricing period, mainly due to rumours that OPEC might cut production.
“The Rand strengthened against the US Dollar, on average, when compared to the previous period,” the department said.