Motorists might be able to breathe a sigh of relief this week when the new petrol price is announced, according to economists. This comes after the price of petrol for 93 and 95 ULP and LRP increased by 75 cents per litre earlier this month. The massive hike was as a result of a weaker rand and higher oil prices.
But the rand is making strides in regaining some of its strength, which means that motorists could likely pay less than R20 for a litre of fuel in the New Year.
According to SABC News, the global demand for oil has decreased following fears over the spread of the Omicron variant, resulting in a drop in the international oil price.
South Africans are also resorting to methods of carpooling and lift clubs to make it easier on their pocket for the time being. Some of the carpooling setups, as outlined by BusinessTech, include:
Specific driver carpool: (it includes a designated driver and car, and passengers pay a weekly or monthly rate towards petrol and parking). Alternating carpool: (everyone takes turns to drive with their own cars on a daily, weekly or monthly basis).
The Department of Mineral Resources & Energy is expected to announce the new petrol price adjustment on Friday.
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