South Africans may see a decrease in fuel prices starting December 6, 2023, as the Automobile Association (AA) and the Central Energy Fund (CEF) have reported expected reductions due to a combination of eased international product prices and a stronger Rand against the US Dollar. This anticipated relief comes just in time for the end-of-year holiday season, potentially easing consumer struggles and making travel more affordable.
The AA announced today that motorists can expect the price of ULP 95 inland to drop to approximately R22.17 per liter, with coastal prices even lower at R22.05 per liter, marking the lowest rate since February. Diesel is projected to decrease to R22.15 per liter, which is less expensive than September’s R23.05 per liter but still above August’s rate of R20.21 per liter.
Similarly, data from CEF released yesterday indicates that ULP 93 will see a reduction of R1.05 per liter, while illuminating paraffin is set to decrease by R1.75 (USD1 = ZAR18.2773) per liter. These adjustments are attributed to stable oil prices alongside the aforementioned stronger local currency and softer international product prices.
In light of these upcoming changes, both organizations advise South Africans to ensure their vehicles are in good condition for long journeys typically undertaken during the holiday period. The AA emphasizes the importance of complete vehicle checks before embarking on trips, adherence to road safety practices, and mental preparedness for sharing busy roads during this time.
The reduced fuel prices are expected to provide some respite for consumers and aid those planning to travel over the holidays, with new rates effective from the first Wednesday in December.
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