{"id":284306,"date":"2018-11-15T10:00:30","date_gmt":"2018-11-15T08:00:30","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=284306"},"modified":"2018-11-15T09:40:14","modified_gmt":"2018-11-15T07:40:14","slug":"expect-a-massive-petrol-price-drop-in-december","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/energy\/284306\/expect-a-massive-petrol-price-drop-in-december\/","title":{"rendered":"Expect a massive petrol price drop in December"},"content":{"rendered":"<p>South African motorists may be in for an early Christmas present at the pumps in December, with the latest data forecasting a R1.50 petrol price cut.<\/p>\n<p>Based on the mid-month data published by the <strong><a href=\"http:\/\/www.cefgroup.co.za\/wp-content\/uploads\/2013\/10\/Daily-14-11-2018.pdf\">Central Energy Fund<\/a><\/strong>, movements in the petrol price currently show an over-recovery of 151 cents and 154 cents for 93 and 95 octane, respectively, and 92 cents for diesel.<\/p>\n<p>Illuminating paraffin shows a drop of 85 cents.<\/p>\n<p>If market conditions remain stable for the remainder of the month &#8211; the petrol price could drop to its lowest point since June.<\/p>\n<p>The movement in petrol prices (the over recovery) has been largely driven by positive movements in the international petroleum prices on the back of a slump in the oil price.<\/p>\n<p>International oil prices have continued to decline in November, dipping well below $70, to $67 a barrel.<\/p>\n<p>Currency movements have also worked in our favour, with the average rand\/dollar exchange in a stronger position to date in November.<\/p>\n<p>Notably, the rand dipped below R14 to the dollar ahead of the US elections earlier in the month, but has since come off that level, trading at around R14.25.<\/p>\n<p>Bianca Botes, corporate treasury manager at Peregrine Treasury Solutions, expects the local unit to trade in the\u00a0R14.20 to R14.60 range over the short term.<\/p>\n<p>&#8220;While there is little momentum to really act as a catalyst for further rand strength, the currency has been able to outperform other emerging market currencies,&#8221; she said.<\/p>\n<p>In November, petrol prices showed an over recovery of 22 cents &#8211; however, government absorbed the price drop through a slate levy to balance the country&#8217;s slate account.<\/p>\n<p>The Department of Energy has final say on the petrol price movements, and will announce official changes at the end of the month.<\/p>\n<div class=\"bt_table\">\n<div class=\"table-responsive\"><table class=\"table\" width=\"100%\" cellspacing=\"0\" cellpadding=\"6\">\n<tbody>\n<tr>\n<th bgcolor=\"#CCCCCC\" width=\"40%\">Fuel<\/th>\n<th style=\"text-align: center;\" bgcolor=\"#CCCCCC\" width=\"30%\">November official<\/th>\n<th style=\"text-align: center;\" bgcolor=\"#CCCCCC\" width=\"30%\">December expected<\/th>\n<\/tr>\n<tr>\n<td>95 Petrol<\/td>\n<td style=\"text-align: center;\">R17.08<\/td>\n<td style=\"text-align: center;\">R15.54<\/td>\n<\/tr>\n<tr>\n<td>93 Petrol<\/td>\n<td style=\"text-align: center;\">R16.86<\/td>\n<td style=\"text-align: center;\">R15.35<\/td>\n<\/tr>\n<tr>\n<td>0.05% Diesel (wholesale)<\/td>\n<td style=\"text-align: center;\">R16.13<\/td>\n<td style=\"text-align: center;\">R15.21<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n<hr \/>\n<p><strong>Read:\u00a0<a href=\"https:\/\/businesstech.co.za\/news\/energy\/281923\/here-is-the-official-petrol-price-for-november-2018-with-a-nasty-shock-for-diesel\/\" rel=\"bookmark\">Here is the official petrol price for November 2018 \u2013 with a nasty shock for diesel<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>South African motorists may be in for an early Christmas present at the pumps in December, with mid-month data showing a R1.50 petrol price cut.<\/p>\n","protected":false},"author":10,"featured_media":57817,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9874],"tags":[26],"class_list":["post-284306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/284306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=284306"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/284306\/revisions"}],"predecessor-version":[{"id":284342,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/284306\/revisions\/284342"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/57817"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=284306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=284306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=284306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}