The holiday has already begun for many, and will have to pay more for petrol and less for diesel from Wednesday.
Petrol increases by R0-11 per liter for 93 as well as for 95 degrees, but diesel decreases in price by R0-18 and paraffin decreases by Ro-21 for December month.
Economic experts say the rise in gasoline prices, and the slight drop in diesel and paraffin prices, could be attributed to the weak Rand, which just failed to return to its levels two years ago.
The spirit of Christmas seems to be returning to South Africa: Some six months after recording our last decrease in the petrol price, July looks like it will give road users in Mzansi the gift they’ve been waiting for.
How much cheaper with the petrol price be in July?
The Central Energy Fund have released their data for the per-litre price forecast of both petrol and diesel. Each fuel looks set to fall in cost, with a reduction of almost R1 p/l (well, 90 cents p/l, to be precise) on the cards for petrol.
Diesel is also on course for a similarly-cheery result next month, with just over 70c-per-litre predicted to come off the current price. Even another moderate rise would have likely broken a few unwanted records in SA, but the experts now believe that motorists will have to fork out less to fill up their vehicles in a few weeks’ time.
Why the petrol price is set to drop
The forecast has come relatively early in the month. Usuall
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The spike in the fuel price on Wednesday and growing unrest in oil-producing Venezuela have done little to assuage fears that the petrol price is set to continue its upward trajectory for most of this year.
However, economists believe the oil price is unlikely to rise much above $80 a barrel in 2019, and that the fuel price will retreat towards the end of the year. In fact, global estimates indicate an average Brent crude oil price in the mid-$60s for the year.
The price of petrol in South Africa increased last week by 54c per litre while diesel went up by one cent as the oil price neared $75 per barrel as it continued to rise since starting the year at just over $50/barrel.
The inland price of 95 unleaded petrol increased to R16.67 and 93 unleaded to R16.50, while, at the coast, 95 unleaded increased to R16.03 and 93 unleaded to R16.07. The prices continue to edge closer to the October 2018 all-time high of R17.08.
The recent increase wa
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A spokesperson for the AA said last weekend that calculations indicate that the price of this fuel will fall further during January 2019.
The expectation is that petrol may drop about R1.19 and diesel prices may decrease by R1.44 while lamp oil (paraffin) is expected to fall by R1.32.
Experts say that price is still too high and should fall by at least another R4.20, but the eagerness of the regime makes the motorist a the most convenient target to exploit .
This report does not necessarily reflects the opinion of SA-news.
Read the original article in Afrikaans on Die Vryburger