Some early Christmas cheer for all South Africans after it was predicted that the biggest petrol price drop in history is expected to occur on the first Wednesday of January 2015…a drop of over R1 a litre. Due to falling global crude oil prices the Department of Energy in SA predicted a drop in the SA petrol price of 103 cents per litre while the Automobile Association is forecasting a drop of between 105-107 cents/litre.
The price drop is just an estimate though with the unpredictable Rand playing a determining factor.
“The fuel price drop predicted by the data could be among the largest on record. This is notwithstanding a gradual weakening of the Rand/US dollar exchange rate over the past fortnight,” the AA said in a statement.
Petrol is set for a drop of 105 to 107 cents per litre while the price of diesel was likely to drop by around 85 cents based on current data, the AA said. ” [MoneyWeb]