Relief at the pumps for motorists in January
This is the second consecutive fuel price drop recently.
MOTORISTS will usher in the New Year with more a little more in their pockets with the petrol price set to come down in January.
The Department of Energy on Friday announced that both grades of petrol 93 (ULP and LRP) and 95 (ULP and LRP) will decrease by R1.22 and R1.23 respectively as of next Wednesday, 2 January.
The price of Diesel 0.05% sulphur will come down by R1.53 a litre while that of Diesel 0.005% sulphur is scheduled to come down by R1.55 a litre.
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Meanwhile, the price of Illuminating Paraffin (wholesale) will decrease by R1.23 in the wholesale price, while the price of Illuminating Paraffin (SMNRP) will decrease by R1.64.
In a statement the automobile Association (AA) which predicted that the fuel price would come down, said the drop at fuel pumps will bring much needed relief to consumers battered by considerable increases throughout the year.
“The main driver of these reductions has been sagging international petroleum prices, spurred on by the USA which is trending towards becoming a nett exporter of oil. Should this ever come to pass, the power of the OPEC [Organisation of the Petroleum Exporting Countries] nations to influence petroleum prices would be reduced considerably, leading to increased oil price stability,” said the AA.
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