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 drop 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 R17.23/$ to about R16.60, and Brent crude oil has fallen 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.
Read Full Article on Business Day
