Slight consumer relief as petrol prices set to fall on New Years Day

By Bradley Prior (first published on MyBroadband)

The petrol price will decrease by 14 cents per litre on 1 January 2020, the Department of Energy has announced.

95 octane petrol will see the full 14 cent decrease, while 93 octane and lead replacement petrol will both drop by four cents per litre.

However, diesel and illuminating paraffin will increase in price – by nine cents and five cents per litre respectively.

The Department of Energy said that the average Brent Crude oil price has increased from $63 to $66.71 per barrel, while the rand has strengthened against the dollar.

The AA also lauded the rand’s strength as a reason for petrol price decreases.

“The rand has held steady during the first half of December, even appreciating slightly against the US dollar,” said the AA.

“This has contributed approximately nine cents in price relief. Meanwhile, the landed price of fuels has been mixed, with petrol down slightly, while diesel is up.”

The table below shows the new fuel prices.