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Fuel prices expected to drop in January

todayDecember 14, 2023 37

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South African motorists will start the new year on good note as fuel prices are set to decrease once again.

Commenting on unaudited data from the Central Energy Fund, the Automobile Association (AA) says this will ease the financial pressure on consumers in January.

According to the data – both grades of petrol will go down by between 68 cents and 82 cents a litre.

Diesel is set to decrease by around R1.50 cents a litre, while illuminating paraffin will decrease by around R1.42.

“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. 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,” says the AA in a statement.

The AA says the price drop is due to the significantly lower international product prices.

“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. For many travellers who will be going on vacation this is also good news as it will undoubtedly reduce expenses on the return leg of their journeys,” says AA spokesperson, Eleanor Mavimbela.

Earlier this month, both grades of petrol decreased by 65 cents per litre and diesel by between R2.35 and R2.41.

 

 

 

 

Written by: Nonhlanhla Harris

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