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Petrol price to decrease in December says the AA

Jeffreys Bay is gearing up for a bumper holiday season and the news that petrol prices will drop in December is good news as South Africans prepare for the annual pilgrimage to the coast.

After months of sustained pressure on the fuel price, motorists will receive a substantial breather in December if the current fuel price trends continue.

Motorists can expect a whopping R1.85 reduction per litre in the price of petrol, with diesel coming down by an estimated R1.40, and illuminating paraffin dropping by R1.28, the Automobile Association predicted on Wednesday.

The main driver of lower prices has been an accelerating decline in international oil prices, which have trended downwards since the beginning of this month.

The picture has been helped along by a modest improvement in the Rand / US dollar exchange rate.

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However, the Department of Energy recently re-introduced the use of the Slate Levy to manage price changes, and we cannot rule out the possibility that this may impact the final figure.

Fuel users should also bear in mind that recent oil production cuts by Saudi Arabia could result in oil supply restrictions as we move into 2019, pushing prices higher.

While the current fuel price picture is the rosiest it has been for several months, caution should remain the watchword.

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