There is some good news for motorists. The petrol price for January 2020 will see a drop in petrol while diesel will up.
The Department of Mineral Resources and Energy over the weekend announced a petrol price decrease of between 4 cents and 14 cents per litre for January 2020.
However, diesel prices will increase by 9 cents per litre.
The January 2020 petrol prices are set to take effect on Wednesday, 1 January.
Petrol price January 2020 explained
According to the Department of Energy, the main reason for the January 2020 petrol price drop and the diesel price increase is that the average Brent crude oil price increased from $63 to $66.71 per barrel during the period under review.
It added that crude oil prices increased following signals of the extension of OPEC production cut into mid-2020 as well as signs of a new round of trade talks between China and the United States of America.
“Furthermore, the rand appreciated, on average, against the US dollar (from R14.80 to R14.47) during the period under review when compared to the previous one.”