SA Petrol price goes down on Wednesday this week.. The news was announced by The Central Energy Fund (CEF) on Monday. It said that the retail price of petrol (93) will be cut by 71 cents a litre, while 95 will decrease by 68c.
The wholesale price of diesel will be lowered by 67.8 cents a litre, whilst the price of illuminating paraffin will decrease by 71 cents a litre.
Though these are fabulous news. There is still a need to wonder why the petrol price has dropped now? According to the statement, the Rand went down against the US Dollar from R15.40 to R15.92 per USD.
“The rand depreciated, on average, against the US Dollar (from 15.40 to 15.92 rand per USD) during the period under review when compared to the previous one,” the note said.
“This led to higher contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by about 29.00 cents per litre.”