Just in: SA to enjoy cheaper prices of Petrol and diesel

Motorist in South Africa will be happy with the current prices of petrol and diesel.

The petrol price, for both 93 and 95 grades, will be cheaper by 13c a litre from Wednesday this week.

Diesel prices will be cut by 16c (0.05% sulphur) and 14c (0.005% sulphur) respectively. Illuminating paraffin prices will be 23c a litre lower.

The cuts are largely  thanks to a stronger rand during the past month. South Africa imports more than 60% of its oil, which is priced in dollar. A strong rand means the imported prices in dollar gets cheaper.

The average rand/dollar exchange rate for the period 27 September to 31 October was 14.9293 compared to 14.8432 during the previous period, the Central Energy Fund said in a statement.

On Tuesday morning, the rand was trading at R14.73/$.

From Wednesday, 95 unleaded petrol will sell for R16.08 a litre in Gauteng, and R15.44 in coastal areas. Petrol prices rose by more than R2 a litre since the start of the year.

Diesel will sell for R14.68 in Gauteng and R14.14 on the coast from Wednesday.

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