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Petrol price for South Africa, January 2019:

  • Petrol price for inland regions: R13.79
  • Petrol price for the coast: R14.10
  • Diesel price wholesale: R13.14

In a press statement released last week, the AA explained the alterations. With America trying to establish themselves as a bigger exporter of oil – at OPEC’s expense – the price of Brent Crude has taken a bit of a nosedive. However, they also warn that the rand-to-dollar exchange rate could temper any long-term gains for the motorists of Mzansi:

“The main driver of these reductions has been sagging international petroleum prices, spurred on by the USA which is trending towards becoming a nett exporter of oil. 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.”

“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.”-AA

This update means that the petrol price has now plummeted by more the R3 within two months. Diesel is going down by R1.53p/l and illuminating paraffin is dropping by R1.22.

By:www.northmagazine.co.za

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