Fuel price reduction announced for January 2022

By Phila Audrey Tuba

Department of Mineral Resources and Energy announced reduction in fuel price on Monday evening. Prices of all fuels were adjusted last night and would be effective from Wednesday, January 5.

The Minister of Mineral Resources Gwede Mantashe said petrol prices were set to drop by between 68 and 71 cents a litre, diesel down by​ between 67.8 and 69.8 cents a litre illuminating paraffin lower by 95 cents, LP gas was 70 cents cheaper per kilogramme and the single maximum National retail price for IP was down by 95 cents per litre.

Debt Rescue CEO Neil Roets has welcomed the decrease as it was a positive sign for the start of the new year after the record of high fuel hikes last year and would have a direct impact on consumer pockets, as well as businesses that rely on transport for their goods and services.

Automobile Association stated that the current high fuel prices should be a driving force for a review of the fuel prices structure, as well as an audit of existing prices within that structure.

Despite the decreases in these fuel prices the Automobile Association has repeated their call for a fuel price review after the steep increases last year.

“We were pleased that our calls for fuel price reduction have reached the ears of the Minister of Finance Enoch Godongwana. We welcome his Christmas comments that fuel price structure needs a critical re-look, and we call on him to make a quick work of this issue ahead of his 2022 Budget Speech in February”, said the Automobile Association.

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