Good news as fuel price drops confirmed for January

After price increases in December, the new year starts on a positive note for South African motorists with the department of mineral and petroleum resources confirming major decreases for all grades of fuel. From Wednesday the retail price of 93-unleaded petrol drops 62c/land 95-unleaded decreases 66c/l. The wholesale price of diesel sees a more substantial drop, with 0.05% sulphur going down by R1.37/land 0.005% sulphur reducing by R1.50.

The Central Energy Fund attributed the decreases to the stronger rand and lower international oil prices. Over the past month the rand has firmed from R17.23 to about R16.53 to the US dollar and Brent crude oil has reduced from around $63 (R1,040.51) to $60 (R990.97).