Petrol price to drop, but diesel increasing in January
The Department of Mineral Resources and Energy has announced a petrol price decrease of between 4 cents and 14 cents per litre for January 2020.
Diesel will, however, increase by 9 cents per litre.
The new prices are set to take effect on Wednesday, 1 January.
The main reason for the fuel price adjustment, according to the Department, is that the average Brent crude oil price increased from $63 to $66.71 per barrel during the period under review.
The department says crude oil prices increased following signals of the extension of OPEC production cut into mid-2020 as well as signs of a new round of trade talks between China and the United States of America.
Furthermore, the rand appreciated, on average, against the US dollar (from R14.80 to R14.47) during the period under review when compared to the previous one.