South Africa to drop Petrol price by R1.84 per litre this week
By Staff Reporter
An announcement from the department of energy brings some welcome relief for consumers at the pumps for the Festive Season.
Both grades, 93 and 95, of petrol will decrease by R1.84c per litre this coming Wednesday.
Diesel, the price of which is not regulated like petrol’s, will be between R1.45 and R1.47 less, and illuminating paraffin will be between R1.33c and R1.78c cheaper.
Recent record fuel price hikes took petrol to more than R17 a litre, with diesel reaching more than R15.50.
The Automobile Association (AA) said last month that massive fuel price reductions were expected for December, but these could be tempered by adjustments in the retail and wholesale margin, and the possible continued use of the Slate Levy.
“With these expected drops, the fuel prices will return to levels last seen around the middle of 2018,” said the AA.
“These massive decreases stem from a combination of substantial retreats in international petroleum prices and a slightly firmer rand, which has trended stronger against the US dollar since its most recent peak in early September at close to R15.50 to the greenback.”
“The see-saw ride in fuel prices over the past year has shown just how great the impact of international petroleum pricing and the rand-US dollar exchange rate is on the lives of ordinary citizens. The outlook for fuel pricing into 2019 remains cloudy, but we are hopeful that some stability will return.”