ICYMI: Fuel price relief in store for January - AA
There is possible financial relief on the cards for South African motorists at the pumps in January.
The Automobile Association (AA) says unaudited mid-month data from the Central Energy Fund (CEF) shows a drop in both grades of petrol, diesel, and illuminating paraffin prices from the first Wednesday in January.
"According to the data, ULP93 will decrease by around 68 cents/litre, and ULP95 will decrease by 82c/l. Diesel is set to decrease considerably by around R1.50/l with illuminating paraffin also decreasing by around R1.42/l," reads the statement released by the AA in Thursday.
"The forecast reductions in the wholesale price of diesel will bring this fuel cost down to around R20,32/l inland, coming in at a price lower than the same time last year."
The price drop is due to the significantly lower international product prices.
While the Rand has not been performing well against the US Dollar, the data shows that the movement of international product prices is playing the most substantial role in the forecast reductions.
"These decreases will go a long way to alleviating the fuel price burden and its associated impact on other prices felt by millions of South Africans.”
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