Petrol price to drop in December
Should the current exchange rate remain constant for the next few days, South Africans could benefit from a drop in the petrol price.
WITH Christmas just around the corner, motorists can breathe a sigh of relief with the proposed petrol price decrease in December.
According to the Agricultural Business Chamber, the price of petrol is set to drop by 45 cents a litre and diesel is set to drop by 39 cents a litre. “This expected fuel price decrease is mainly underpinned by the recent fall in Brent crude oil prices, which have been trading below the US$50 per barrel mark for the past 11 days,” said Agbiz economist, Wandile Siholobo, yesterday.
“Moreover, the strengthening of the ZAR/US$ exchange also played a positive role in the expected fuel decrease. This month, the Rand slightly strengthened by one per cent against the US Dollar, averaging at R13.75. If, in the next five days, we can hold on at the current levels then we could enjoy the benefits at the end of the month,” said Sihlobo.
