Johannesburg - The petrol price might fall by 72 cents a litre on the December 3, according to the latest calculation by the department of energy.
The anticipated decrease was largely due to the decline in the international oil price, which was marginally offset by the weaker rand against the US dollar, Marius Luyt, an Automobile Association of South Africa (AA) spokesman, said.
“Over the past 15 days the international oil price has dropped by 10%. On the other hand, the rand has only weakened slightly during the same time,” Luyt added.
As a result, the AA was expecting the price of petrol to drop by between 69 and 72 cents per litre on the first Wednesday of December, he said.
“The slump in the international oil price is likely to continue over the longer term as world demand for oil is forecast to fall. This is positive for consumers as it will result in more money in their pockets. This is also positive as it is almost the December holidays when many people will be travelling far distances while on holiday,” Luyt said.
Diesel might fall by around 50 cents per litre, while illuminating paraffin might drop by 44 cents per litre, according to the latest calculations by the department of energy. - Staff Report