SA to cut petrol prices again

JOHANNESBURG – South Africa’s retail price for all grades of petrol will fall by 21 cents a litre or three per cent from Wednesday on the back of a dip in global oil prices, the government said on Friday.

The retail price of unleaded petrol in the Gauteng province, which includes the financial hub of Johannesburg, will drop to 5,97 rand a litre, the department of minerals and energy said in a statement. The price of the same grade of petrol on the coast will be lowered to 5,73 rand.Rising domestic fuel costs have been cited as one of the key threats to South Africa’s inflation outlook, as they make up about 4,7 per cent of the CPIX index targeted by the central bank for monetary policy.The wholesale price of diesel with a 0,05 per cent sulphur content will decrease by two cents a litre while that of diesel with 0,005 per cent sulphur will drop by one cent per litre.The wholesale price of illuminating paraffin – a fuel source for many poor South Africans – will fall by 13 cents a litre.The Single Maximum National Retail Price of paraffin will decline by 17 cents.Nampa-ReutersThe price of the same grade of petrol on the coast will be lowered to 5,73 rand.Rising domestic fuel costs have been cited as one of the key threats to South Africa’s inflation outlook, as they make up about 4,7 per cent of the CPIX index targeted by the central bank for monetary policy.The wholesale price of diesel with a 0,05 per cent sulphur content will decrease by two cents a litre while that of diesel with 0,005 per cent sulphur will drop by one cent per litre.The wholesale price of illuminating paraffin – a fuel source for many poor South Africans – will fall by 13 cents a litre.The Single Maximum National Retail Price of paraffin will decline by 17 cents.Nampa-Reuters