MOTORISTS will feel slight relief at the pumps from next week as the price of petrol and diesel is set to decrease significantly.
Commenting on data from the Central Energy Fund, the Automobile Association (AA) predicts that both grades of petrol will drop by around R1.85/litre, diesel by R2.47/litre and illuminating paraffin by R1.93/litre.
The decreases will come into effect on Wednesday, 4 January.
“These reductions will bring the price of 95ULP inland to around R21.57/l and R20.92/l at the coast, both prices close to those last seen in March 2022.
“The forecast reduction in the wholesale price of diesel will bring this fuel cost down to around R21.47/l.
“These reductions are certainly good news for all consumers and signal positive start to fuel pricing for the new year,” says the AA.
The reductions are reportedly the result of a stronger rand/US dollar exchange rate and significant decreases to international product prices, with the latter playing the most substantial role.
“These decreases will not take fuel prices to levels seen in January 2022 but will, nonetheless, go a long way to alleviating the fuel price burden – and its associated impact on other prices – felt by millions of South Africans.
“For many travellers who are currently on vacation, this is also good news as it will undoubtedly reduce expenses on the return leg of their journeys,” concludes the AA.
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