The dollar is currently trading at R13.82 against the rand and R18.29 to the pound. That’s the best it’s been in ages and on Wednesday, South African motorists have another reason to be cheerful because the price of petrol will be going down 99 cents per litre and diesel will be dropping 74 cents a litre. The lower prices comes as welcome relief and is attributed to the weak dollar and weaker global oil price.
“Impressive though the rand’s performance has been of late, it has contributed only about 25 cents of the expected fuel price drop in August, the association said. The balance has been due to the continued retreat of international petroleum prices in the wake of the United Kingdom’s vote to exit the European Union, it said.” [BusinessTech]
Meanwhile…petrol stations in Johannesburg have run out of fuel due to the strike by refinery workers and petrol truck drivers.
“Numerous filling stations in Gauteng have run dry, caused by a strike affecting refinery workers‚ fuel truck drivers, and depot workers.
Around 15‚000 workers in the petrochemical and pharmaceutical sectors belonging to the Chemical‚ Energy‚ Paper‚ Printing‚ Wood and Allied Workers Union (Ceppwawu) began to strike on Thursday” [MyBroadband]
Now you know.