The Department of Energy has projected a drop in the petrol price by as much as R1.03 a litre, on 7 January 2015.<\/p>\n
The retail price of 95-grade petrol in South Africa fell by 69 cents a litre on 3 December. A R1.03 fall would send the fuel price to its lowest level since August 2012, having peaked at a record R14.39 a litre earlier this year.<\/p>\n
Azar Jammine, chief economist at Econometrix, forecast a drop of between 90 cents and R1.00 a litre in January, according to Business Report.<\/p>\n
The economist factored in falling crude oil prices, to below $60 a barrel, however, a weaker rand against the greenback could counteract the oil price movement in terms of the local fuel price.<\/p>\n
On Wednesday morning (17 December), the rand was bid at R11.70 against the dollar.<\/p>\n
\u201cThings can change a lot between now and the end of the month,\u201d\u00a0Jammine said.<\/p>\n
SA petrol price to drop 69 cents<\/a><\/strong><\/p>\n Petrol price could drop by 72c in December<\/strong><\/a><\/p>\n