• South African motorists will enjoy paying slightly less for petrol, diesel and other fuels for December.
• Both grades of petrol (93 and 95) will see price decreases of 65 cents per litre, while 0.05 percent sulphur diesel will decrease by R2.36 per litre.
• The Department of Mineral Resources and Energy says that a stronger Rand to the Dollar and cheaper international fuel prices have caused local price decreases.

After a dire year of petrol price hikes, South African motorists have been able to breathe a slight sigh of relief over the last two months as prices have seen somewhat of a decrease since November.

Last month saw the first price decrease for fuels since July, with both grades of petrol falling by nearly R2 per litre. Diesel also saw price slumps, as well as illuminating paraffin. Liquid petroleum (LP) gas, however, increased in price by R1.49 per kilogram.

As for December, the new petrol and diesel prices have come trickling in from the Department of Mineral Resources and Energy (DMRE). The latest update, published at the beginning of the month tells of the following prices for fuels during the festive season:

• Both grades of petrol 93 and 95 – decrease of 65 cents per litre,
• Diesel 0.05 percent – decrease of R2.36 per litre,
• Diesel 0.005 percent – decrease of R2.42 per litre,
• Illuminating Paraffin – decrease of R1.71 per litre,
• LP gas – decrease of R1.67 per litre.

In terms of the economic factors that have caused this second consecutive decrease, the international prices for petrol, diesel and illuminating paraffin all decreased recently, which influenced local prices. The Rand also strengthened against the Dollar in the period between 27th October and 30th November, from R19.07 down to R18.58.

“This led to a lower contribution to the Basic Fuel Price on petrol, diesel and illuminating paraffin by 33.11 cents per litre and 37.68 cents per litre, respectively,” explains the DMRE. Usually, economic conditions that cause price hikes include increases in the pricing of Brent Crude Oil, as well as shipment costs as South Africa imports its petroleum products.

South African motorists will close 2023 on a positive note, with the next change to petrol price expected around 2nd January 2024.

[Image – Photo by Erik Mclean on Unsplash]