Petrol price to drop by more than R1 a litre for second straight month

Motorists will wake up to good news on Thursday morning as the price of fuel drops.

Fuel prices have fallen for two consecutive months and the Automobile Association (AA) said this would bring much-needed relief to embattled consumers.

The department of mineral & petroleum resources announced on Tuesday that the retail price of ULP93 petrol will drop by R1.05/l from July 4 while ULP95 goes down 99c/l. The wholesale price of diesel will decrease by between 24c (0.005% sulphur) and 30c (0.05% sulphur). Illuminating paraffin will decrease by 18c/l. The new prices take effect on July 4.

The department attributed the decreases to lower international petroleum prices and the rand appreciating slightly against the US dollar during the period under review.

From midnight on Wednesday the following fuel prices apply:

INLAND

ULP93 : R22.86

ULP95 : R23.36

Diesel (0.005%): R20.91

Diesel (0.05%): R20.66

COAST

ULP93: R22.07

ULP95: R22.47

Diesel (0.005%): R20.15

Diesel (0.05%): R19.87