December 4, 2018 1:06 pm
CAPE TOWN – Motorists have welcomed the petrol price drop.
The Energy Department has announced that from Wednesday, a litre of petrol will cost R1.84 less, while diesel is going down by about R1.45.
Illuminating paraffin will decrease by R1.33c and R1.78c.
While some say they’re happy to hear the news, others say it’s too little too late.
“I think it’s fantastic; fuel prices are going down,” one motorist said.
Others were pleased with the fuel prices decreasing as they say they have been spending a lot of money on petrol.
“It’s a bit too late, it was supposed to go down a long time ago. The expense of living his high, and petrol is always going up and never coming down,” another motorist commented.
The decrease comes after the country saw a record price hike a couple of months ago which saw petrol hitting R17.08/litre, while diesel hit the R15.69/litre mark.
The department said the massive decreases are due to the average international product prices for petrol, diesel and illuminating paraffin decreasing during the period under review.
The oil price also plummeted over the past few weeks, now just under $60 a barrel, after hitting $80 several weeks ago.
The South African Reserve Bank Governor Lesetja Kganyago cautioned last month that inflation was a concern as fuel prices were at record highs.
Additional reporting by Ray White.
(Edited by Mihlali Ntsabo)
Categorised in: South Africa