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Fuel price relief for homeward bound travellers

2017-12-30 10:08

Image: iStock

Derrick Spies, Correspondent

Johannesburg - Travellers can look forward to some relief as they make their way home after their December holidays, with the Department of Energy announcing a drop of up to 34 cents a litre in fuel prices.

The decrease of 34c/l for 95 octane petrol, which will take effect from the 3rd of January, will take the per litre price to R14.42 inland, while the coastal price drops back below the R14 mark, to R13.93.

The department also announced a decrease of 29c/l for 93 octane petrol, while the per litre price of diesel with 0.05% and 0.005% sulphur content will decrease by 22c and 26c respectively.

First decrease in 5 months

The wholesale price of illuminating paraffin will decrease by 29c per litre, while the cost of wholesale LP Gas will decrease by 71c per kg.

This is the first month that fuel prices have come down after five consecutive petrol price increases.

READ: Strengthening Rand drives fuel price down - AA

The department said the main reasons for the fuel price adjustments were due to a stronger rand against the US dollar, which went from R14.10 to R13.27, on average, during the period under review.

The strengthening rand was however undermined slightly by an increase in the average Brent Crude oil price, which increased from $62.50 to $63.77 per barrel during the period under review.

Brent crude closed at its highest in more than two years due to the shrinking US stockpile, while a key North Sea oil pipeline remains shut, although the repair of the pipeline is now complete and pressure testing is well under way.

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