The retail price of petrol will drop next week, the energy department said on Friday.

Petrol 93 ULP and LRP will decrease in price by 39 cents a litre and the price of Petrol 95 ULP and LRP will drop by 40 cents a litre.

The wholesale price of diesel with a 0.05 percent sulphur content will drop by 32.5 cents a litre.

Diesel with a 0.005 percent sulphur content will fall by 33.5 cents a litre.

The wholesale price of illuminating paraffin will drop by 27.5 cents a litre and the single maximum national retail price for illuminating paraffin will decrease by 37 cents a litre.

During the period under review, the average international product prices of petrol, diesel and illuminating paraffin decreased, the department said.

"The average rand/dollar exchange rate strengthened when compared to the previous period.

"The average rand/dollar exchange rate for the period August 28, 2009 to 1 October 2009 was 7.5764 compared to 7.9913 during the previous period," the department added.

In Gauteng a litre of 95 ULP petrol will now cost R7.45.

Sapa

SA's top 5 fraud cases Meriza La Key counts down South Africa's biggest Ponzi schemes.

The Malema factor ANCYL leader Julius Malema has become one of the most feared and most powerful figures in the ANC.

The people vs Eskom 2 Former Eskom employee 'Ike' writes from Canada to give his views on Eskom's proposed tariff hike.