Petrol Price Relief
Petrol & Diesel prices drop bringing some welcome relief to cash strapped consumers heading back to work.
The year got off to a good start with a drop in the price of oil (which means lower prices for petrol and diesel).
As of January 4th, the price of petrol has dropped below what commuters were paying back in February 2022 (before the Russian Invasion of Ukraine) for the first time.
Petrol dropped by R2.06/ Litre
Diesel dropped by around R2.69/Litre
A pending global recession seems to be on the card which will put other pressures on consumers but at first the upside is a lowering in the price of Brent crude oil.
As this is happening however, the US Dollar has made some gains vs the Rand and that may influence what happens with prices in February.