South Africa’s petrol prices are expected to drop by up to 1.8 US cents a litre starting at midnight on Tuesday, the energy ministry has announced.According to the ministry, a litre of 93 octane unleaded petrol (ULP) and lead replacement petrol (LRP) would come down by US$0.14, while that for 95 octane ULP and LRP is expected to be lowered by US$0.18 in Gauteng Province.
As for diesel, at midnight both grades of diesel (0.05% sulphur and 0.005% sulphur) will decrease by 0.29 cents and 0.76 cents a litre, respectively, according to the energy prices regulator.
Lighting paraffin’s wholesale price will decrease by 4.5 cents, with the retail price dropping by six cents, the ministry said.
The move to effect these changes was due to a drop in the average international product prices for petrol, diesel and illuminating paraffin during the period under review, the office added.
Meanwhile, South Africa’s Automobile Association (AA) noted that the local rand currency’s daily average dipped to as low as R16.10 to the US dollar in September before firming at the end of the month.
However, a recent steep depreciation to around R16.90 to the greenback followed by a brief plateau and a further spike to nearly R17.20 per US dollar caught watchers unawares, the AA said.
The AA noted that “the rand’s weakening profile was mirrored in strengthening international petroleum product prices.”