Petrol price to drop, diesel more expensive in August
The price of petrol is set to drop at midnight, although there is no relief for those who use diesel.
"Both grades of petrol will decrease by 28 cents per litre. Diesel will increase by 63 and 65 cents per litre. Illuminating paraffin at retail level will increase by 43 cents per litre," says Robert Maake.
Maake, who is with the Department of Mineral Resources and Petroleum, says other international factors have also contributed to the mixed adjustment.
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"The average Brent Crude oil price decreased slightly from 69.36 US dollars to 69.06 USD during the period under review.
"The main contributing factor to the lower crude oil price is the decision by OPEC to increase production and the uncertainty caused by looming US trade tariffs including secondary tariffs which could affect global economic growth and demand for crude oil."
"The rand appreciated on average, against the US dollar, (from 17.84 to 17.76 rand per USD) during the period under review when compared to the previous one. This led to lower contributions to the Basic Fuel Prices of petrol by between four to five cents per litre on all products."
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