Petrol Price To Drop Again?
It looks like SA commuters are in for some additional relief as petrol prices may drop in February.
Even though the Rand has taken some knocks recently due to the high levels of load shedding eroding investor confidence int he value of the Rand, we could be in for a small drop in the petrol price in February.
Rough Guess Predictions:
As the Rand value vs Dollar changes regularly and because the price of Brent Crude changes over time economists can simply guess what the prices will probably look like by the end of the month. Here is what some are saying:
Petrol 93: Decrease: 18 cents/Litre
Petrol 95: Decrease: 25 cents/Litre
Diesel 0.05: Decrease: 50 cents/Litre
Diesel 0.005%: Decrease: 63 cents/Litre
So, while these are just guesses, what you can see is they are talking about a small reduction in price, which is much nicer than another hard hitting increase.
Some good news amidst difficult load shedding times.
Sadly Not..We Actually Will See Increases
Despite all the hype regarding possible price drops, it turns out that with the dollar doing well and the price of Brent cude going up again in February we will only see increases and not those decreases as listed above (which were guesses made midmonth). Apparently a lot can change in a few days.
*this article was updated at the end of January 2023 to reflect up to date information.