Petrol prices are spreading the festive cheer with an anticipated drop coming next week.Image-File
Festive fuel cheer: Petrol and diesel drop next week
South African drivers are in for a festive fuel cheer as petrol and diesel prices are poised to decrease next week Wednesday.
Petrol prices are spreading the festive cheer with an anticipated drop coming next week.Image-File
South African drivers are in for a festive fuel cheer as petrol and diesel prices are poised to decrease next week, thanks to stable global oil prices.
The Department of Mineral Resources and Energy will unveil the fuel price adjustments on Wednesday, 6 December, bringing good news for motorists.
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FESTIVE FUEL CHEER IS BEING SPREAD AS FUEL PRICES DROP
According to the Central Energy Fund, a projected R1 reduction in petrol prices is expected, while diesel’s decrease will range between R2.22 and R2.28 per litre.
Business Tech highlights the rand’s positive impact, contributing 32 to 28 cents per litre in local fuel prices, with international product prices adding 66 cents per litre for petrol and R1.90 per litre for diesel.
| FUEL | PRICE CHANGE | |
| Petrol 93 | decrease of 98 cents | |
| Petrol 95 | decrease of 100 cents | |
| Diesel 0.05% | decrease of 223 cents | |
| Diesel 0.005% | decrease of 229 cents | |
| Illuminating Paraffin | decrease of 184 cents |
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As a result, petrol prices are anticipated to reach R22.90 for the 95-grade, and diesel prices may slightly drop over R20 per litre just in time for the festive season.
The rand’s favorable contribution is attributed to its strong trading position against the dollar throughout November, averaging around R18.50 compared to October’s R19.10.
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Additionally, the decline in oil prices to less than $80 a barrel since November further contributes to the anticipated fuel savings. Get ready for a wallet-friendly holiday season on the road.
WHAT TWO MAIN FACTORS IMPACT THE PRICE
1. The international price of petroleum products, driven mainly by oil prices
2. The rand/dollar exchange rate used in the purchase of these products
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The final overall price changes for both petrol and diesel will be confirmed in the weeks ahead with the new prices coming into effect at midnight on Tuesday, 5 December.
