There is a running joke that January is the three-month-long month, and for good reason. Traditionally, many go on extended leave at the end of the year, and want to enjoy their time off properly – grabbing drinks at bars, exploring the city, and having a good time. Having fun, however, costs money.
Motorists will be relieved to know that mid-month data from the Central Energy Fund (CEF) predicts that the price of fuel will decrease across the board in the new year.
Should current conditions persist, the price of petrol may decrease by between 8 and 17 cents per litre, and diesel is predicted to drop by approximately 2 cents per litre.
These are the predicted changes for January:
Petrol 93 is predicted to decrease by 8 cents per litre
Petrol 95 is predicted to decrease by 17 cents per litre
Diesel 0.05% is predicted to decrease of 2 cents per litre
Diesel 0.005% is predicted to decrease of 2 cents per litre
Illuminating Paraffin: decrease by 6 cents per litre
According to the CEF, the main driver of the petrol drop forecast can be attributed to the stronger rand, along with the hopes that the United States and China will broker a trade agreement.
The predicted price of fuel for January is estimated to look as follows:
95 Petrol – R16.30
93 Petrol – R15.80
0.05% Diesel (wholesale) – R14.51
0.005% Diesel (wholesale) – R14.57
Illuminating Paraffin – R9.17