The energy department announced cuts to be made to fuel prices in the first week of January 2023. The department says petrol prices will drop by R2,06/ on Wednesday bringing some relief to consumers in the first week of 2023.
According to the Central Energy Fund(CEF), both grades of petrol, diesel and illuminating paraffin prices are showing substantial decreases which will come into effect when the official adjustment is made in the 3rd of January 2023.
The Automobile Association (AA) explained that petrol (both grades) will decrease by around R1,85/litre, diesel will decrease between aroung R2,47/litre and R2.59/litre and illuminating paraffin will decrease by around R1,93/litre.
The reductions are reported to be made because of the result of a stronger rand and a decrease in Brent oil price.
The AA said the average price in Brent oil fell from $88.77 (R1, 508) a barrel to $85.08 over December and the rand had strengthened sightly again the dollar.
It added that these decreases will not take fuel level prices to those in January 2022 but will go a long way in alleviating the fuel price burden- and it’s associated impact on other prices felt by millions of South Africans.
“For many travellers who are currently on vacation, this is also good news as it will undoubtedly reduce expenses in the return leg of their journeys”, said the AA.
