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S/African fuel prices to drop next week

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South African motorists will smile this week as the fuel price for their vehicles is set to be lowered by between 69 and 68 cents starting on Wednesday, energy officials have said.The officials from the Energy Ministry said on Monday that the cost of a litre of 95 ULP and LRP will be cut by 68 cents, while that of 93 Octane, ULP and LRP will come down by 69 cents a litre, thanks to the strong local rand currency against the US dollar and the current low crude oil prices worldwide.

With the new fuel prices, consumers will now pay 99 cents a litre on 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 percent sulphur and 0.005 percent sulphur) will come down by 60 cents, while the price of lighting paraffin (wholesale) will drop by 57 cents a litre, with the maximum retail price of cooking coming down by 92 cents.

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