Motorists (and the SA economy) can breathe a sigh of relief as fuel prices are predicted to fall sharply in December 2018 according to unaudited mid-month fuel price data released by the Central Energy Fund (CEF).
The news of potential drastic fuel price decreases is probably the best news South Africans have had all year. The latest fuel price prediction is driven by the accelerating decline of international oil prices as well as modest improvement in the Rand/Dollar exchange rate.
According to the data, the price of petrol could see a reduction of R1.54 per litre while the price of diesel could come down by 92 cents per litre.
The AA, however, warns that recently-introduced Slate Levy (which manages prices changes) could impact on the final outcome at the end of November 2018. Furthermore, oil cuts by Saudi Arabia could result in oil supply restrictions in 2019 which could drive prices higher, so it's best not to get too excited.