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Petrol price to decrease by 45c/l

As of Wednesday the diesel price will go down between 60 and 61 cents a litre.

The Petrol price will decrease 45 cents a litre on 5 Nov. Picture: EWN.

JOHANNESBURG - The Energy Department has announced that the retail price of petrol will go down by 45 cents a litre from 5 November, while diesel will go down between 60 and 61 cents a litre and illuminating paraffin will cost 52 cents less.

The Department says the weakening of the rand against the US dollar increased the contribution to the basic fuels price on petrol, diesel and illuminating paraffin by 12.33 c/l, 12.49 c/l and 12.64 c/l respectively.

Investment Solutions economist Chris Hart says he's been expecting this.

"I think over the last month both the rand and the oil price have strengthened."