Big cuts in petrol and diesel prices are expected next week

Relief may be on the horizon for petrol users.

After a tough year of skyrocketing fuel costs, South Africans will start 2023 with big price cuts expected on Wednesday 4th January.

The Automobile Association (AA) estimates that petrol (both 93 and 95) will drop by about 1.85 R/litre, diesel by between 2.47 R/l and 2.59 R/l and luminous paraffin by about 1 R will be reduced to 0.93/l.

These reductions will bring the price of 95 unleaded petrol to around R/L 21.57 domestically and R/L 20.92 coastal, both prices close to those last seen in March 2022, the AA said. The diesel price is reduced to around 21.47 R/l.

The cuts come on the back of a sharp drop in oil prices and a stronger rand against the dollar.

“These cuts will not bring fuel prices back to January 2022 levels, but will still go a long way towards reducing fuel price pressure – and the associated impact on other prices – felt by millions of South Africans,” the AA said.

“For many travelers who are currently on vacation, this is also good news as it will no doubt reduce the cost of the return trip.”

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