Relief for motorists as fuel prices set to decrease in the New Year

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Motorists are poised to ring in the New Year with a welcome relief at the pumps as the Automobile Association (AA) predicts a decline in fuel prices, attributing it to the downward trend in international oil prices.

According to the Central Energy Fund’s data, a substantial drop is expected, with 95 unleaded decreasing by 54 cents per litre, and 93 unleaded seeing a dip of around 39 cents per litre.

Diesel prices are projected to experience a noteworthy decrease, ranging from 94 cents to R1.2 per liter. Illuminating paraffin is also anticipated to follow suit with a drop of approximately 95 cents per litre.

While this news brings cheer to motorists, the AA remains cautious, expressing concerns about the potential impact of ongoing geopolitical tensions, which could undo the progress made in curbing inflation and lead to future price hikes for consumers.