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Petrol price drops again

The petrol price will fall 93 cents a litre and diesel will cost R1.02 less a litre.

FILE: Good news for motorists as the price of petrol decreases for a sixth consecutive month. Picture: SAPA.

JOHANNESBURG - The price of petrol will decrease by 93 cents a litre (c/l) from Wednesday, the Energy Department revealed on Friday.

The price of diesel will drop by R1.02c/l.

The decrease was attributed to lower international crude prices. Brent crude is on track to post a 14 percent fall for January, marking a seventh month of decline in prices.

The weaker rand however mitigated some of the effects of lower oil prices.

Illuminating paraffin will cost R1,36 cents less.

Economist Dawie Roodt says motorists should still tread with caution.

"It's important not to get too complacent. The oil price at its current level could fall further but I'm convinced it will eventually start going up again. I think the equilibrium level for the oil price is probably closer to about $70 a barrel."

This is the seventh straight month that petrol and diesel prices have dropped or stayed fixed in South Africa.

Unleaded 95 petrol dropped by a cumulative total of R4.02c/l since August.

Petrol prices dropped a record R1,27c/l in January.

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