SA petrol prices to fall

JOHANNESBURG – South African petrol pump prices will fall by 10 cents a litre, about 1,4 per cent, across all grades from September 5, the government said on Friday.

A statement from the minerals and energy department said the most-used 95 grade would drop to 6,91 rand a litre in the central Gauteng province, which includes the financial hub Johannesburg. However, diesel wholesale prices will increase by five cents a litre, it said.The petrol price fall may ease price pressures in South Africa, where the central bank has singled out high food and fuel costs as key inflation drivers.Fuel costs make up about 4,7 per cent of the main CPIX index targeted by the central bank for monetary policy, although its indirect impact on inflation is much wider.Nampa-ReutersHowever, diesel wholesale prices will increase by five cents a litre, it said.The petrol price fall may ease price pressures in South Africa, where the central bank has singled out high food and fuel costs as key inflation drivers.Fuel costs make up about 4,7 per cent of the main CPIX index targeted by the central bank for monetary policy, although its indirect impact on inflation is much wider.Nampa-Reuters