BusinessLive reports that the central energy fund announced on Friday that the price of both 93 and 95 octane petrol would drop by R1.74/l on Wednesday.
Diesel with a 0.05% sulphur content will go down by R1.61/l and the higher grade by R1.56/l. The wholesale price of illuminating paraffin will drop by R2.23/l, with the retail equivalent to come down by R2.97/l. “The average international product prices for petrol, diesel and illuminating paraffin decreased during the period under review,” the fund indicated in a statement, adding that the rand also firmed against the dollar. International oil prices have been ravaged by the effects of the coronavirus on economies, with Brent crude down more than 62% since the start of the year. With many countries in lockdown, fuel demand is extremely low, adding to the pressure on prices.
- Read the full original of the report in the above regard by Andrew Linder at BusinessLive
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