South African motorists planning to take to the road for the festive season can breathe a sigh of relief as the fuel prices are expected to drop next month.
This is according to mid-month data from the Central Energy Fund.
Based on the current data, ULP 95 is expected to decrease by R1.06 a litre and ULP 93 by R1.05c/l.
The price of diesel is set to get a cut of up to R2.10 a litre, while illuminating paraffin will decrease by about R1.75 a litre.
Automobile Association’s Layton Beard says the predicted drop in fuel prices will be a much welcome relief to cash-strapped South Africans ahead of the festive season.
“South Africans planning long journeys for their end-of-year holidays will, no doubt, be extremely happy with this news, as will consumers who suffer when particularly diesel prices increase,” says the Beard.
Beard says the stronger value of the rand against the US dollar has made a significant contribution to the expected drop in prices.
“The current data is showing that international product prices have eased since the beginning of the month and are contributing to the bulk of the expected decreases. The stronger value of the rand against the US dollar is also playing its part and is combining with the more stable oil prices to ensure South Africans can look forward to lower fuel prices in December.”
The new prices are set to come in effect on December 6.
Big drop in petrol prices expected for South Africa in December
South African motorists can expect a welcome drop in fuel prices this December. https://t.co/eziYGKvueU
— TopAuto (@TopAutoSA) November 15, 2023
Written by: Nonhlanhla Harris