Consumers at the pump will feel some relief this week as the price of 93-octane unleaded petrol will drop on Wednesday (7 January) to its lowest level since August 2012.

Continuing weak global crude oil prices is the main reason for the drop in prices.

A depreciation in the rand/ dollar exchange rate actually led to an increase in the basic fuel price of up to 19.75c/l, but this was offset by the fall in crude prices.

The retail price of 93-octane petrol will drop by R1.27/l and the wholesale price of 0.005% sulphur diesel by R1.05/l. The retail price of illuminating paraffin will decrease by R1.44/l and liquefied petroleum gas (LPG) by R2.10/kg.

At R11.24/l for 95-unleaded in Gauteng, the price is only 20c higher than it was in August 2012. Diesel, at R10.28/l in Gauteng, will be only 3c higher than in August 2012.

Energy Minister Tina Joemat-Pettersson said the decrease would be a big relief to motorists and users of LPG and paraffin, in particular low-income households.