Business News 2.9.2016 02:30 pm

Petrol price to drop by 18 cents next week

Photo: Supplied

Photo: Supplied

The fuel price will go down by 18 cents a litre for petrol and by 48 cents a litre on diesel, the Central Energy Fund said on Friday.

The fund said the price decrease for next Wednesday, was due to the rand strengthened against the US dollar, on average, when compared to the previous period.

Dollar exchange rate for the period July 29 to September 1, was 13.8016 compared to 14.4407 during the previous period.

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The strengthening of the rand against the dollar decreased the contribution to the Basic Fuels Price on petrol, diesel and illuminating paraffin, the fund said.

The wholesale price of lamp paraffin will go down by 47 cents a litre.

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