Guiding consumers since 2009

Petrol prices decrease

By Staff Writer


Motorists are set to enjoy a 55 cent per litre decrease on all grades of petrol next week, the Department of Energy said today. Meanwhile, diesel prices will drop by 24 cents per litre and the wholesale price of paraffin will drop by 21 cents a litre.


The adjustment comes after the average international crude oil prices decreased by $12 from $120 per barrel to $108 per barrel. The slash in international crude oil prices has culminated from Iran allowing UN nuclear inspectors into the country giving the market some confidence in crude oil supply; the Euro debt worries and a lower demand for commodities by China as the country suffers from a slowdown in its economy.


However, the weakening of the Rand against the US Dollar prevented prices from decreasing even further. Instead, it increased the contribution to the basic fuels price on petrol, diesel and illuminating paraffin by 20.21 c/l, 21.03 c/l and 20.84 c/l respectively. The average Rand/US Dollar exchange rate for the period 25 April 2012 to 31 May 2012 was 8.1031 compared to 7.8536 during the previous period.

Recent Articles

Featured Everything you should know about tax auto assessment

In 2019, the South African Revenue Service (SARS) launched a system, which was dubbed an “auto assessment”, to assist taxpayers with their annual tax returns. But what does this system entail, and how will it impact you?

What does it mean to be a registered Financial Services Provider?

You may have noticed that financial institutions state that they’re registered Financial Services Providers (FSP). But what does this actually mean, and how does this benefit you as a consumer?

Should the retirement age change?

Across the world, people are retiring later than they used to. However, retirement products are centred around set retirement ages at which point you’d be able to access your retirement savings. But how applicable is the current retirement age in South Africa?

Everything you need to know about wills

Death can leave a lot of confusion and chaos. What happens to your possessions when you die can have a profound effect on those you leave behind. But you can soften the impact by drawing up a will.

Deals

Get 30% off your gym membership with Absa student account

Price: Available on request
When: Daily
Where: Nationwide

Get 10% discount on Rentalcars.com

Price: Available on request
When: Daily
Where: Worldwide

Get up to R5 back in rewards points when buying fuel

Price: Available on request
When: Daily
Where: Nationwide


Latest Guide

Guide to debt rehabilitation solutions