Record fuel price drop on the cards

2014-12-18 16:10

International oil prices have dropped steeply and motorists are set for a fuel bonanza in the new year, says the Automobile Association.

“The fuel price drop predicted by the data could be among the largest on record. This is notwithstanding a gradual weakening of the Rand/US dollar exchange rate over the past fortnight,” said the AA yesterday.

Petrol is set for a drop of 105 to 107 cents per litre while the price of diesel was likely to drop by around 85 cents based on current data, said the AA.

Illuminating paraffin was showing a potential reduction of about 90 cents per litre.

The AA was commenting on unaudited mid-December fuel price data released by the Central Energy Fund.

The likely month-end figure was difficult to predict, as international petroleum prices continued to decline while the Rand followed its weakening trend against the US dollar, said the association.

“To date, the weakening exchange rate has been outstripped by the reduction in petroleum prices and if this trend continues, the price motorists pay at the pumps could drop well below R12 per litre by month-end,” said the AA.

“We will monitor this trend closely and update motorists as the new year approaches.”

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24


Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.