Motorists rang in the New Year on a high note after the much anticipated petrol price decrease took full affect.
The Automobile Association announced in mid-December that based on unaudited month-end fuel price data released by the Central Energy Fund, there will a “substantial” drop in petrol prices across the board.
The association’s spokesperson, Layton Beard said, “Petrol is showing a reduction of around R1.22 a litre, with diesel down by R1.30 and illuminating paraffin dropping by R1.22.” The main driver of these reductions has been sagging international petroleum prices, spurred on by the USA which is trending towards becoming a nett exporter of oil. Should this ever come to pass, the power of the OPEC nations to influence petroleum prices would be reduced considerably, leading to increased oil price stability.”
Motorists welcomed the price drop with opened arms with some saying the past few months have been tough on them when travelling for work.
Bradley Naidoo said, “I travel a distance for work on a daily basis, the past few months have really put a strain on my pockets. I am extremely happy for this further price deduction after the one we saw in December.”
Another motorist said that he is glad that he will be saving on fuel for a while as the continuous increases had him emptying his pockets to get to work.
These prices took full effect on Wednesday, 2 January.