The agricultural business chamber has announced it anticipates a drop in the petrol price of around 45 cents per liter while diesel could be 39 cents per liter cheaper come 7 December.
AgriBiz’s Wandile Sihlobo says the drop is mainly underpinned by the recent fall in Brent crude oil prices, which have been trading below the US$50 per barrel level for nearly two weeks.
He adds that the rand’s performance also played a part.
“All of that will only hold if the current exchange rates remain on the levels that we are seeing now for around R13,17 to R14. But if we do see the rand slipping on, then we might not see those drops.”
