SOUTH AFRICA - FUELS PRICES SET TO DROP ON NEXT WEDNESDAY

The Department of Energy has announced that the price of petrol will decrease by 18 cents a litre, while the price of diesel will decrease by up to 49 cents on 7 September.

The wholesale price for illuminating paraffin will see a 63 cents a litre decrease.

This comes after the price of petrol dropped by 99 cents at the beginning of August.

Chief Economist at the Institute for Race Relations Ian Cruickshanks said last month that motorists could look forward to a similar price drop in September.

“The oil price was varying between $40-45, which is very low, and the rand had been depreciating considerably. It is those two factors which look like they could be playing into effect yet again.”

The Automobile Association (AA) also said the then current figures showed the petrol price could decrease by 69 cents a litre, after a 99 cents decrease this month.

VIA - ewn.co.za