Petrol, diesel prices to decrease by more than R2 per litre in January

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South African motorists can expect significant fuel price reductions to start 2023.

The new fuel price adjustments released by the Department of Mineral Resources and Energy indicate that all grades of petrol will decrease by R2.06 per liter.

Diesel will come down by a massive R2.68 cents per liter while paraffin will cost R1.93 cents less. However, the users of LP Gas will pay 82 cents more per KG.

The department attributes the decline to lower international oil prices, firmer local currency and the reduction in the slate levy.

Commenting on data from the Central Energy Fund, the Automobile Association (AA) says both grades of petrol, diesel and illuminating paraffin prices are showing substantial decreases.

“In the case of petrol, we are looking at a decrease of around R1.85c a litre. In the case of diesel, we are looking at around R2.50. These are obviously all averages. I mean when you look at R1.80 and R2.50 these are very significant decreases that we are expecting, at the same time, we are looking at illuminating paraffin decrease of about R1.90 a litre. Good news all round and we mention it’s obviously good news for motorists but for all consumers actually, you know all these decreases will be good news,” says Layton Beard, AA spokesperson.