Month-end fuel price data suggests that significant fuel price cuts are on the cards for December 2023, which will bring much-needed relief to overburdened consumers.

With the holiday season fast approaching, South African motorists will be pleased with the prospect of significant fuel price cuts in December.

Unaudited month-end data released by the Central Energy Fund (CEF) indicates that the price of petrol could see cuts of around R1 per litre while the price of diesel could see reductions of well over R2 per litre.

It must be highlighted, however, that this data is only indicative and official fuel price adjustments will be communicated this week and come into effect on Wednesday 6 December 2023.

With the Rand showing some strength against the US Dollar in November 2023 and coupled with lower international oil prices during the same period, fuel price cuts are inevitable.

The cuts will provide some financial relief for consumers who have faced stiff fuel price increases during the course of 2023.

Fuel Price Forecast in South Africa for December 2023

*December figures are forecast figures and not official.

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