Petrol price to decrease by nearly R1 in July

The petrol price will decrease by nearly R1 from July 3, the Department of Energy announced on Friday. 

The price of 93 ULP will go do down by 96 cents a litre, while 95 ULP will cost 95 cent less a litre. Diesel will decrease by 79 cents per litre.

The department said the main reason for the downward adjustment was a drop in the price of Brent Crude Oil, which went $71.29 per barrel to $63.60 during the period under review.

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“International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs,” the department said in a statement.

The wholesale price for illuminating paraffin will cost 57 cents less per litre.