The price of petrol may drop by between R1,10 a litre and R1,30 a litre in December, an analyst said on Monday.
”We believe there’s a good chance of petrol going under R8 a litre and diesel under R8,50,” said economist Mike Schussler.
He said the latest under-recovery figure indicated R1,38, which meant that the petrol price could drop somewhere between R1,10 and R1,30 litre in the first week of December.
Diesel and paraffin prices could drop by between 50c and 60c.
”But the oil price is jumping all over the place and the rand is jumping all over the place.
”There are warning signs that this may be one of the last petrol cuts we will have for a while,” said Schussler.
The price of petrol touched a record-high R10 per litre in the middle of the year while the price of diesel shot up to more than R11 per litre. — Sapa