The Department of Mineral Resources and Energy announced that the price of both grades of petrol will be cut by 10 cents per litre tomorrow, Wednesday the 2nd of June.
Unleaded 95 will retail at R17.13 per litre while unleaded 93 will retail at R16.91 per litre.
Diesel will be hiked by 20c per litre and diesel will increase by 21c per litre. A 20c increase is on the cards for illuminating paraffin. In May, petrol dropped by 9 cents per litre. This was after a record hike of 100 cents per litre for petrol in April, which left petrol inn R17/l territory. Revised fuel and road accident fund levies had also kicked in. Because South imports most of its oil, fuel prices in South Africa are determined primarily by the international oil price, which is priced in dollars. The rand-dollar exchange rate therefore also has an impact on the price South Africans pay at the pump.
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