Petrol price to fall by 69 cents a litre

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Published Nov 28, 2014

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Johannesburg - The petrol price is set to fall by 69 cents a litre on Wednesday, December 3.

The diesel price is set to fall by about 54 cents a litre at the same time, the department of energy announced.

“The main contributing factor to the fuel price decreases is the continual drop in the crude oil prices, which fell to about $80 (R883) per barrel, during the period under review (31 October 2014 to 27 November 2014),” the department added.

The wholesale price of illuminating paraffin will fall by 49.30 cents a litre and the the single maximum national retail price of illuminating paraffin will fall by 66 cents a litre.

The maximum retail price of LPGas will drop by 125 cents a kilogramme.

The department also announced that the petrol margins, which is adjusted on an annual basis in December, had increased from 198.9 cents a litre in the previous year to 215.4 cents a litre this year.

“The overall margins adjustment increases the petrol price by 12.3 cents per litre after taking into account the 4.2 cents per litre salary adjustment for petrol attendants that was included in the petrol price in September 2014,” the department added. - Staff reporter

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