Hold your horses!

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BONUS – RUSTENBURG – With the technical recession in full swing, motorists will be glad to learn that they can look forward to petrol prices of between 69 and 68 cents per litre cheaper as of Wednesday, 5 July 2017.

The Department of Energy announced that a litre of 95 ULP and LRP will decrease by 68 cents while that of 93 Octane, ULP and LRP will come down by 69 cents a litre. Consumers will now pay R12.86 a litre as of Wednesday when the new prices come into effect.

This is a second consecutive month in which the price of petrol has come down. In addition, both grades of Diesel (0.05% sulphur) and 0.005% sulphur will come down by 60 cents while the price of Illuminating Paraffin (wholesale) will drop by 57 cents a litre.

β€œThe prices of petroleum products decreased, on average, in the international markets in line with the lower crude oil prices.

Oil Prices have reached their lowest point for the year as light sweet crude supplies particularly from the United States as well as Libya and Nigeria (unbound by the Organisation of Petroleum Exporting Countries (OPEC) cut agreement) continue to rise,” said the department.