Petrol prices to come down again

The petrol price is set by the Department of Minerals and Energy. They have announced that the petrol price is set to drop by 39 cents per litre for 93 ULP and LRP. This price cut comes into effect on Wednesday the 7th of October. So don't go fill your tank up yet. This cut is due to the average international price of petrol decreasing and movements in the Rand/Dollar exchange rate. This is all well and good but what will it actually save you?

 

• City Golf 49 litre tank = R 19.11 less
• BMW 70 litre tank = R 27.30 less
• Hilux 160 litre tank = R 62.40 less

 

These are the amounts that you won't have to pay from Wednesday on. A welcome relief even if it seems like they are small numbers, in a recession every little bit of saving is to be welcomed. There has also been government approval of an increase in profit margin for the petrol retailers who have been under severe stress in a sector with slim margins and a recession eating away at them. The forecourts should be happy with these changes.

While it may not seem like there is much point to saving 20 bucks on a tank for a small car what you can consider is that with 9.8 million vehicles on the roads in South Africa as a whole we will be paying 3 822 000 Rand less per litre from mid week. Saving R 3.8 million per litre when looked at like that is great news for the economy, drivers and the transport industry. If you are in the habit of planning your budget then you could be able to award yourself a 'petrol pressie' this weekend.