Lower intl product prices given as reason for predicted December fuel price drop
Lower international product prices have been cited as a reason for the anticipated fuel price decrease that has been predicted for December.
JOHANNESBURG - Lower international product prices have been cited as a reason for the anticipated fuel price decrease that has been predicted for December.
The Automobile Association (AA) says unaudited data from the Central Energy Fund shows a decrease of between R1.05 and R1.06 for both grades of petrol, while a two rand decrease in diesel is expected.
Fuel prices decreased in November following three consecutive months of fuel price increases.
The Automobile Association said that should international product prices remain the same for the rest of the month, South Africans will see another fuel price decrease.
The Central Energy Fund's data also shows that a steady rand against the dollar has also played a significant role in the expected price cut.
Both grades of petrol are currently available at over R23 a litre, while diesel is at over R24 a litre.
The association says this will bring relief to cash-strapped South Africans, as people across the country prepare for the December holidays.