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Here is the official petrol price for December

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Source: Google Images Source: Google Images

Motorists will see a massive fuel price reduction at the pumps on Wednesday, the Department of Energy has announced.

The price for both grades – 93 and 95 of petrol – will decrease by R1.84 per litre.

Diesel will decrease by R1.45 and R1.47, and illuminating paraffin will drop by R1.33.

The price cuts will come as a relief for consumers after the South African Reserve Bank’s Monetary Policy Committee (MPC) decided to increase the repurchase rate by 25 basis points to 6.75% late last month.

International oil prices have continued to fall, while the rand made strong gains against the dollar in November.

Brent crude traded below $60 per barrel, having topped $80 in September.

Bloomberg reported that the rand’s gain of 8.1% against the dollar in November, was surpassed only by a 9.1% advance in November 1988.

The local unit has come under renewed pressure in early December however, due to Eskom power cuts.

FuelNovember officialDecember official
95 Petrol R17.08 R15.24
93 Petrol R16.86 R15.02
0.05% Diesel (wholesale) R16.13 R14.68

This article was sourced from BusinessTech; for the original article, click here

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