Petrol Price Set To Decrease This Week

The Department of Mineral Resources and Energy (DMRE) said the decrease is based on local and international factors. Fuel prices are also reviewed on a monthly basis so the decrease is nothing out of the ordinary.

The price is set to decrease anywhere between 23 and 32 cents a litre.

The price of a litre of 93 (ULP and LRP) will decrease by 23 cents while the price of a litre of 95 (ULP and LRP) will decrease by 32 cents in Gauteng.

The price of a litre of 95 ULP in Gauteng, will go from costing R15.18 a litre to costing R14.86 a litre from Wednesday.

Just last week, the Automobile Association (AA) predicted a drop in the price of petrol. 

"The Rand's daily average dipped as low as R16.10 to the US dollar on September 18, following a long downward trend which began in the first week of August. However, a steep jump to around R16.90 followed by a brief plateau and a further spike to nearly R17.20 caught watchers unawares, and there is rightly some concern about the Rand's short- to medium-term trajectory," said the AA on Tuesday.

The AA also took note of a drop in the price of petrol decreasing whenever the rand weakens. 

"Almost in lockstep with the Rand, diesel and petrol prices spiked, and then pulled back before starting a further climb. If this trend of a weakening Rand and rising international fuel prices continues, it could be extremely negative for South African fuel users, and we will watch further changes with interest.”

The Association has advised motorists to be wary of the sudden decreases in the price of petrol.

"It is too early to tell whether the spikes in both were a blip or the start of a more sustained reversal, but motorists should continue to be wary given the ongoing instability in both local and global economies,” said the AA.

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