National 29.7.2016 07:23 pm

Petrol price to drop by R1 a litre

Picture: AFP

Picture: AFP

The oil price dropped and the rand strengthened, equalling motoring joy.

The fuel price will go down by 99 cents a litre for petrol and by 74 cents a litre for diesel, the Central Energy Fund said on Friday.

The fund said the considerable price decrease from next Wednesday was due to a drop in the international product prices of petrol, diesel and illuminating paraffin, as well as the strengthening of the rand against the US dollar.

The wholesale price of lamp paraffin will go down by 88 cents a litre.

However, the price drop comes in the midst of a strike in the petroleum industry that has raised fears of pumps running dry.

Workers affiliated to the Chemical, Energy, Paper, Printing, Wood and Allied Workers’ Union (Ceppwawu) downed tools on Thursday after wage talks deadlocked following an offer of an increase of 7% from the sector.

The strike affects fuel depots and refineries but not filling stations.

– African News Agency (ANA)

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