Motorists will have a good start to 2015 as petrol price in South Africa is set to drop to a massive low for the first time in six years.
The 95 petrol price will drop by R1.23 per litre and the 93 petrol price will drop by R1.27 a litre on Wednesday the Central Energy Fund announced on Friday. The price of diesel is also set to drop by between R1.04 and R1.05 per litre.
The price of Illuminating paraffin will drop by R1.44 a litre and liquefied petroleum gas (LPG) will decrease by R2.10/kg.
This drop in petrol price in South Africa will have a positive impact on the inflation rate according to economists. The news of the drop will certainly be welcome by all South Africans as other commodity prices are also expected to fall.
This is a historic decrease in fuel price as the last time fuel dropped by more than R1 a litre was in January 2009. That time petrol dropped by R1.37 a litre and diesel dropped by up to R1.67 a litre.