SABC News - SA motorists set for fuel price drop:Friday 30 November 2012

SA motorists set for fuel price drop

Friday 30 November 2012 05:52

SABC

Economists expect petrol prices to drop by as much as 23 cents a litre next week

Economists expect petrol prices to drop by as much as 23 cents a litre next week(SABC)

Motorists can expect positive news today. The Energy Department is expected to announce a drop in fuel prices, shortly before the festive season.

Economists expect petrol prices to drop by as much as 23 cents a litre next week, with the diesel price expected to come down by 17 cents a litre and paraffin by 14 cents a litre.

Economist Laura Campbell says the decline in the fuel prices is not much considering the increases during the year.

“We have seen brent crude oil price increasing  recently and this is due to political conflicts in Egypt, as well as  an expected increase and an improvement in demand  due to Europe's economic outlook.  However the expected decline in the petrol price in December is expected to be around  23 cents per litre which isn't as great when oil prices were trading below their $110 per barrel mark.”

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