Motorists could see big fuel price relief in January

After steep hikes in December, South African motorists are set to get a much-needed break at the pumps in the new year.

According to the latest daily fuel price data from the Central Energy Fund:

• the wholesale price of 50ppm diesel is expected to drop by R1.02/l and 500ppm diesel by 94c/l;
• prices for petrol are also set to ease, with 95-octane petrol down 17c/l and 93-octane petrol down 15c/l; and
• the wholesale price of illuminating paraffin is projected to fall by 69c/l.

The declines are being driven by falling international oil prices, a stronger rand and the rand oil price hitting a multi-year low.

As usual these projections may still change before the end of the month, with final January fuel prices set to take effect on Wednesday January 7.