The Department of Energy announced a 2c/l decrease in the price of petrol effective from 1 June 2011 on all grades of fuel. This takes the price of 95 Octane in Gauteng to R10.23c/l, still well above R10.00 per litre.
The good news is that for the first time in eight months, the price of petrol has come down – but the bad news is you probably won’t notice it!! More positively, the current over-recovery on the fuel price is a little higher at 8c/l, which could result in a further modest price reduction next month.
Users of diesel will benefit a little more as the price of diesel is going to decrease by 38c/l this week. T he price of a litre of wholesale illuminating paraffin will decrease by 32c.
The slight fuel price change is due to the movements in international oil prices coupled with the favourable Rand/US dollar exchange rate. As mentioned above, fuel prices should continue to decrease in the coming months if the international oil price and the Rand/US Dollar exchange rate remain steady.
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