Huge reductions in national fuel prices are forecast for December, unaudited mid-month fuel price data released by the Central Energy Fund (CEF) shows.

Months of building pressure on petrol prices may finally ease in December if current fuel price trends continue.

An increasing decline in international oil prices is the main cause of lower fuel prices, which have been on a downward trend since the beginning of November.

Another huge help has been the strengthening of the Rand against the US dollar.

Current data predictions show a massive drop of R1.54 per litre of petrol, with the price of diesel dropping by 92 cents and that of illuminating paraffin by 85 cents.

The Department of Energy has, however, recently re-introduced the use of the Slate Levy to manage price changes, which may affect the final figure.

Fuel users should also keep in mind that recent oil production cuts by Saudi Arabia may result in oil supply restrictions moving into the new year, pushing prices higher once more.

While the current fuel price picture is looking better than it has for a number of months, motorists should nevertheless remain ready for anything.


Picture: Pixabay

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