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Petrol price to drop by 67 cents

The price decrease will come into effect from 3 September.

The petrol price will decrease by 67 cents per litre from 3 September. Picture: EWN.

JOHANNESBURG - The petrol price will decrease by 67 cents per litre, the Department of Energy announced on Friday afternoon.

The price decrease will come into effect from 3 September.

Diesel will decrease by around 25 cents.

Consumers will fork out 25 cents less for illuminating paraffin.

The Department of Energy has also included a retail margin hike of 4.2 cents to accommodate a 9 percent salary increase for fuel attendants.

The drop in the fuel price has been attributed to a decrease in the international oil price and the performance of the rand against the US dollar.

Dawie Roodt, chief economist at Efficient Group says, "The main reason has to do, without a doubt, with international oil prices coming down. The exchange rate of the rand hasn't really changed over the last four or five weeks or so - so not much of a change because of the exchange rate."

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