Slight petrol price decrease for SA

Cape Town - The retail petrol price will dip by 10c a litre next Wednesday due to lower international prices, the energy department said on Friday.

The price of 95 grade petrol in Gauteng will drop slightly to R12.10/l, while at the coast it will cost R11.75/l. However, the wholesale diesel price will go up to R11.44.

The price of 0.05% sulphur diesel will be 10.2c/l higher, while that of 0.005% sulphur diesel will rise by 9.2c/l.

The petrol price breather follows last month's 23c/l increase and this year's highest single price hike of 93c/l in August.

Meanwhile, despite high petrol prices the National Association of Automobile Manufacturers (Naamsa) on Friday said that total new vehicle sales rose by 10.5% year-on-year (y/y) in October to 57 845 units.

Naamsa said the increase was partly boosted by record low interest rates.

Exports of locally produced vehicles however fell by 3.3% y/y in October, as the transport strike caused disruption at various manufacturing plants and affected output and exports during the month.

While relatively lower lending rates were boosting domestic sales, rising inflationary pressures and a weaker rand could push vehicle prices unsustainably higher, weighing on demand for the remainder of the year and in 2013, reports Reuters.

Meanwhile, the single maximum national retail price for illuminating paraffin will increase by 4c to R8.70/l.
The maximum retail price for liquid petroleum gas will increase by 1c per kilogram.

Source : fin24.com
Tags : petrol south africa, petrol price, petrol price decrease, petrol gauteng, department of energy
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