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SA motorists will get some relief at the pumps at the start of the new year with the price of petrol and diesel set to fall.
Petrol (93 ULP and LRP) will fall by 62 cents per litre from Wednesday, while 95 ULP and LRP will fall by 76.00 c/l, the Department of Mineral Resources and Energy announced on Tuesday.
Diesel will be cut by 118.32 c/l (0.05% sulphur) and 126.32 c/l (0.005% sulphur).
The wholesale price of illuminating paraffin will fall by 93 c/l. The maximum LP Gas Retail Price, meanwhile, will increase by 11 cents per kilogram.
South African fuel prices are largely determined by international oil costs and the rand exchange rate, as oil is priced in dollars.
The main driver of the fall in prices was a decrease in crude oil prices due to increased production by the US, Venezuela, Guyana, and other non-OPEC countries, the department said. The average Brent Crude price decreased from $82.62 to $77.35 in the period.
The rand slightly depreciated on average against the dollar, from R18.57 to R18.66 during the period.
