BusinessTech reports that after steep hikes in December, motorists are set to get a much-needed break at the pumps in the new year. Mid-month data from the Central Energy Fund (CEF) indicate that petrol and diesel users in SA could see significant price cuts.
The stronger rand heading into the new year has kept fuel recoveries positive, while oil prices have dropped significantly, bringing petrol prices into the positive as well. Diesel prices, meanwhile, have continued to shine, now showing around a R1 per litre over-recovery heading into the new year. The projected levels at mid-month are as follows: Petrol 93 – decrease of 15 cents per litre; Petrol 95 – decrease of 17 cents per litre; Diesel 0.05% (wholesale) – decrease of 94 cents per litre; Diesel 0.005% (wholesale) – decrease of 102 cents per litre; and Illuminating paraffin – decrease of 69 cents per litre. The Department of Petroleum and Mineral Resources only announces the final price a few days before the implementation date. However, the data does give a strong indication of where prices are headed.
- Read the full original of the report in the above regard at BusinessTech
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