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Petrol Price Expected To Drop In August

The Energy Department says there will be a sizeable reduction in fuel prices in August.

A formal announcement will be made by the end of the week.

At the same time, the process to deregulate petrol prices has begun.

Energy Minister Gwede Mantashe published a notice for public comment.

The move will allow retailers to sell fuel at their own prices, up to a specific limit.

The price of petrol has almost doubled since July last year.

The latest increase saw motorists paying over R2 more per litre.