Finally, a bit of good news on the economy front. It has been a while since we have heard of the price of anything coming down. The retail price of petrol will decrease on average by 27c a litre next Wednesday (August 6), the department of minerals and energy announced on Friday. The decrease follows an increase last month of between 69 cents to 75 cents a litre to record levels of between R10.40 and R10.70. The price of petrol now drops to R10.40 a litre in Gauteng and to R10.10 in coastal areas. Diesel prices will also decrease next week but paraffin prices will increase.

The increase in paraffin prices has not been welcome by many as a lot of South Africans use paraffin daily for cooking and lighting. The majority of paraffin consumers are unable to afford a lot in these testing times and adding further pressure on them does not help one bit.

Diesel 0.05% sulphur decreases by 16 cents and 0.005% by 17 cents. Diesel in Gauteng now costs R11.27 a litre and R11.13 at the coast. Wholesale paraffin increases by 3.4 cents and illuminating paraffin by 4 cents.

There may be some further relief in the price of fuel if the international oil prices do not rise dramatically and the strength of the rand will also play a part in determining which way the price of fuel is headed.

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