Photo by: Reuters
The prospects for lower fuel prices in January currently look “fairly good”, independent agricultural economist Fanie Brink said.
The Department of Energy on Thursday released its adjustment on fuel prices for the new year, which show that the price of petrol 93 (ULP & LRP) in Gauteng could possibly be reduced by 41.5 c/ℓ on January 4 to R12.85, while the price of diesel with a 0.005% sulphur content could drop by 32.2c/ℓ to R11.02.
“The reasons for the possible reductions in the prices can be attributed mainly to the lower international petroleum product prices, while the rand/dollar exchange rate only had a small negative effect on the prices over the period from December 2 until yesterday,” Brink explained.