2019 will kick off with good news for motorists, according to the unaudited month-end fuel price data released by the Central Energy Fund, showing a substantial drop across the board.<\/p>\n
According to the AA, petrol is showing a reduction of around R1.00 a litre, with diesel down by R1.30 and illuminating paraffin dropping by R1.22.<\/p>\n
“Should this decrease materialise, it will amount to a more than R2 decrease in the fuel price since the beginning of December, bringing much-needed relief to consumers battered by considerable increases throughout the year,” the group said.<\/p>\n
The main driver of these reductions has been sagging international petroleum prices, spurred on by the USA which is trending towards becoming a net exporter of oil.<\/p>\n
Should this ever come to pass, the power of the OPEC nations to influence petroleum prices would be reduced considerably, leading to increased oil price stability.<\/p>\n
“However, such scenarios will play out over the longer term, and South Africans should be more concerned with short-term effects such as the Rand\/US dollar exchange rate,” the AA said.<\/p>\n
“2018 has shown just how vulnerable South Africa is to exchange rate volatility, and our key message to government is to work towards stabilising the economy and managing government debt.”<\/p>\n
“Our outlook for 2019 is that South Africa’s economic fundamentals and investor confidence which influences the Rand will be the biggest factors affecting fuel prices,” it said.<\/p>\n
The Department of Energy will publish the official changes sometime before the implementation next Wednesday, 2 January 2019.<\/p>\n
Here’s what the expected pump price (inland) will be:<\/p>\n
| Fuel<\/th>\n | December official<\/th>\n | January expected<\/th>\n<\/tr>\n |
|---|---|---|
| 95 Petrol<\/td>\n | R15.24<\/td>\n | R14.24<\/td>\n<\/tr>\n |
| 93 Petrol<\/td>\n | R15.02<\/td>\n | R14.01<\/td>\n<\/tr>\n |
| 0.05% Diesel (wholesale)<\/td>\n | R14.68<\/td>\n | R13.38<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n \n |