SA petrol prices to decrease

JOHANNESBURG – South Africa’s petrol prices will fall by 8 cents a litre across all grades from July 4, the government said on Friday.

A statement from the minerals and energy department said the most-used 95 grade would drop to 7,16 rand a litre in the central Gauteng province, which includes the financial hub Johannesburg. The decrease may ease price pressures which have been mounting in Africa’s biggest economy, with the central bank pinpointing rising food and fuel costs as among the driving forces behind inflation.Fuel costs make up about 4,7 per cent of the main CPIX index targeted by the central bank for monetary policy.Nampa-ReutersThe decrease may ease price pressures which have been mounting in Africa’s biggest economy, with the central bank pinpointing rising food and fuel costs as among the driving forces behind inflation.Fuel costs make up about 4,7 per cent of the main CPIX index targeted by the central bank for monetary policy.Nampa-Reuters