Relief as fuel prices drop in the new year
The Department of Energy has recently announced a drop of up to 34 cents a litre in fuel prices.
The decrease of 34c/l for 95 octane petrol, set to take effect from the January 3, will drop the per litre price to R14.42 inland, while the coastal price declines to R13.93.
The department also announced a decrease of 29c/l for 93 octane petrol, while the per litre price of diesel (with 0.05% and 0.005% sulphur content) will decrease by 22c and 26c respectively.
While the average international prices of petrol and diesel increased the rand’s strength against the dollar helped lower fuel prices overall.
The rand appreciated against the US Dollar during the period under review, on average, when compared to the previous period.
The average Rand/US Dollar exchange rate for the period December 1, 2017 to December 27 was 13.2303 compared to 14.0964 during the previous period.
