Massive diesel price decrease on the cards to start the New Year

The New Year is set to bring some much-needed relief for motorists at the pumps with major fuel price cuts on the cards.

Data for end of December from the Central Energy Fund shows petrol prices could drop between 59 cents and 63 cents per litre.

This while diesel users could see bigger relief with a decrease of between R1.35 and R1.47 per litre, driven largely by weaker international oil prices.

Illuminating paraffin looks likely to decrease by R1.08.

Econometrix Director Dr. Azar Jammine, “Given the continuing appreciation in the rand today to be low R16.5o to the dollar. It’s the best level in three years. That is very disinflationary. It helps to keep import prices down and enables the ordinary consumer to maintain his buying power.”