The Department of Mineral Resources and Energy, South Africa, has announced that the price of petrol will reduce by nine (9) cents a litre in May.
The reason for this downward review of the price is because the Rand appreciated against the US dollar during the period under review, on average, when compared to the previous period.
These are the new prices:
The price of 95 (ULP and LRP) and 93 (ULP and LRP) will come down by 9 cents a litre.
A litre of 95 ULP in Gauteng, which currently costs to R17.32 a litre will come down to R17.23 a litre.
Diesel (0.05% Sulphur) will decrease by 31 cents a litre, while the price of diesel (0.005% Sulphur) will decrease by 30 cents a litre.
The price of illuminating paraffin (wholesale) will decrease by 23 cents.
The price of illuminating paraffin (SMNRP) will decrease by 30 cents, while the Maximum Retail Price for LPGAS will decrease by 172 cents per kilogram.
The DMRE said: “The average international product prices for petrol and illuminating paraffin increased whilst diesel decreased during the period under review…”
Also, in a statement last Friday, the Automobile Association, which had earlier predicted a drop in petrol prices, said the drop will encourage those who use paraffin for lighting.
It said: “As we head into winter, South Africans who use paraffin for lighting, cooking, and heating especially will no doubt be glad at this news. For its part, the AA is hopeful the recent streak of price stability will continue to provide more price relief to fuel users in the short to medium term.”