The Central Energy Fund released the latest fuel price update indicating a big drop in fuel prices which will come into effect from 4 January 2023.
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According to the most recent data from the Central Energy Fund, motorists can anticipate lower fuel prices in the new year. The price of petrol is set to decrease by R1.94 a litre, and the price of diesel could see an even steeper drop of as much as R2.73 per litre.
The price of fuel is usually adjusted on the first Wednesday of each month, based on the price of oil and the rand-dollar exchange rate. The strengthening of the rand and the drop in oil prices are the main contributing factors to the decreased cost of fuel.
Here’s how much South African motorists can expect to pay in fuel prices from 4 January 2023:
- Petrol 93/95: decrease of R1.94 per litre
- Diesel 0.05%: decrease of R2.62 per litre
- Diesel 0.005%: decrease of R2.73 per litre
- Illuminating paraffin: decrease of R2.07 per litre
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