Fuel prices will see a large drop on Wednesday, thanks in part to a cooling oil price. In Gauteng, the price of 95 unleaded petrol will be R25.42 a litre from Wednesday - a year ago it was R18.30. Local fuel prices are determined in part by international oil prices, as well as the dollar-rand value, as South Africa buys oil in dollars. Over the past month, the oil price has weakened, with Brent crude currently at around $110 a barrel. Countering the positive impact of the weaker oil price is the reinstatement of the full petrol levy for the first time in months.

Source: News 24 July 31, 2022 00:33 UTC