Petrol price to drop this week

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Consumers will get some relief at the pumps later this week after the Central Energy Fund announced a drop of between 68 and 71 cent a litre in the price of petrol.

The price of 93 octane petrol will decrease by 71 cents a litre while 95 octane will cost 68 cents less. The price of diesel will drop by between 67 and 69 cents a litre.

This follows last month huge increase that pushed the petrol price to over R20 a litre for the first time in history.

Calculation of fuel price

Meanwhile, earlier in December, the Automobile Association (AA) welcomed the suggestion by Finance Minister Enoch Godongwana to change the way fuel price is calculated.

Godongwana told Parliament during a question and answer session that government was considering reforming the way the fuel price is calculated.

AA Spokesperson, Layton Beard says this is a step in the right direction.

Fuel Costs | Treasury may intervene to support changes in fuel pricing: