Slight petrol price drop to kick off the new year

Cash-strapped consumers returning from their December holiday break will breathe a sigh of relief at the petrol pumps, as the price of petrol is set to come down by between four and 14 cents a litre this week, reports Northglen News.

The Ddepartment of mineral resources and energy has announced a drop in the petrol price, which will see a litre of 93 (ULP and LRP) come down by four cents.

A litre of 95 (ULP and LRP) will come down by 14 cents while both grades of diesel (0.05% Sulphur) and diesel (0.005% Sulphur) will increase by nine cents a litre.

The price change, which will come into effect on New Year’s Day, will see a litre of 95 which currently costs R16.30 in Gauteng, come down to R16.16 cents a litre.

The department said average international product prices for petrol decreased, while those of diesel and illuminating paraffin increased during the period under review.

“The Rand appreciated against the US Dollar during the period under review, on average, when compared to the previous period,” it said.

In December, the price of fuel rose by 22 cents a litre while in November, both grades of petrol came down by 13 cents a litre. The Automobile Association (AA) had predicted a 17 cents a litre drop in the price of petrol in January.

“The current picture for January is pointing to a decrease in petrol of up to 17 cents a litre, with diesel up by a cent, and illuminating paraffin lower by four cents,” it said in a statement in December.

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