By: Natasha Archary
2023 is off to a good start, as motorists can expect a big petrol price drop from 03 January.
The Department of Mineral Resources and Energy confirmed a R2.06/litre decrease in the cost of both grades of petrol.
In addition, 0.05% diesel will also cost R2.69/litre less, while 0.005% diesel will go down by a whopping R2.81/litre.
This means the cost of petrol in Gauteng and other inland parts of the country will cost R21.40/litre.
Coastal regions will pay R20.75/litre for petrol.
Meanwhile, diesel will now cost R21.23/litre inland and R20.58/litre on the coast.
This is the lowest prices for petrol since February 2022.
The Department attributed the decrease in fuel costs to the steady drop in Brent crude oil prices which fell from $88.77 a barrel to $85.08 a barrel over the past month.
A stronger Rand also contributed positively to the decrease in fuel costs.
The new fuel prices will come into effect from midnight on 03 January.
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