Petrol price relief for December

Motorists will be able to breathe a sigh of relief come December with a predicted drop in the fuel price by 69 to 72 cents per litre.

This is the word from the Automobile Association, which was commenting on unaudited mid-month fuel price data from the Central Energy Fund.

Marius Luyt from AA public affairs said the drop in the fuel price is affected by the continued decline in international fuel prices and a weaker Rand/US Dollar exchange rate.

“In the last 15 days the petroleum prices have dropped by more than ten percent and in the same period the exchange rate weakened only slightly,” said Luyt.

Based on the current data, Luyt said the petrol is set to drop by between 69 and 72 cents per litre , diesel predicted to drop around 49 cents per litre and around 43 cents per litre for paraffin.

The AA said statements from oil-producing countries seem to support the view that a slump in oil demand could see the declining trend continue for a longer period.

“All indications are that motorists will have more money in their pockets at month end.”