South African motorists can expect good news in the new year with across-the-board fuel price reductions. Based on the latest data dated December 31 from the Central Energy Fund (CEF), on January 7 the retail price of 93 unleaded petrol is expected to drop 59c/lwith a 64c decrease for 95 unleaded. Diesel car drivers can expect even greater relief, with the wholesale price of 0.05% sulphur diesel set to reduce by R1.35 and 0.005% by R1.47.
The CEF attributes the anticipated decreases to the strengthened rand and reduced international oil prices. Over the past month the rand has firmed from 17.23 to about 16.60 to the US dollar and Brent crude oil has reduced from about $63 to $61. The price cuts will bring welcome relief to road users after fuel price increases in December, when 93- and 95-octane petrol was raised by 29c and diesel was hiked between 65c and 82c.
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