The price of petrol is expected to drop by 38c per litre from May 7, with diesel likely to dip between 47c and 53c per litre.
The price of petrol is expected to drop by 38c per litre from May 7, with diesel likely to dip between 47c and 53c per litre.
Diesel fuel with a 0,3 per cent sulphur content will fall by 53c per litre in the wholesale price, and that with a 0,05 per cent sulphur content by 47c per litre.
The wholesale price of illuminating paraffin will drop by 53c per litre
The department of minerals and energy said in a statement on Tuesday that since the start of the United States-led war on Iraq in March, the international crude oil and petroleum product prices, although somewhat volatile, had decreased substantially. The basic price of South African fuels has followed a similar pattern.
Automobile Association spokesman Petro Kruger told the the recovery was actually 48c per litre and they had hoped the decrease would have been more than 36c per litre.
The department said the decreases took into account the implementation of an equalisation fund levy of 10c a litre in the fuel price structures of petrol, diesel and illuminating paraffin for the May review period, to be utilised in future for price smoothing purposes.
Kruger said the decrease would help motorists save at least R20 per tank.
