Motorists have 69 reasons to celebrate this festive season

petrol-price-drop

The Sandton Chronicle reported, “The price of fuel is set to drop on 3 December, the Department of Energy announced.”

All grades of petrol will cost 69 cents less a litre while diesel will drop by between 53 and 54 cents per litre.

The price of illuminating paraffin will cost 49 cents less.

According to the department, the average international product prices of petrol, diesel and illuminating paraffin decreased during the period under review (31 October to 27 November).

The department said the main contributing factor to the fuel price decrease was the continual drop in the crude oil prices, which fell to about $80 per barrel, during the period under review.

The price of petrol and diesel fell by 45 and 60 cents per litre respectively in November.

Earlier this month, the Automobile Association of South Africa said that oil-producing countries had indicated that a slump in oil demand could see the trend of declining fuel prices sustained over a longer period.

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