Petrol and diesel prices plummet on Wednesday

South African motorists can welcome the new year with good news with the department of mineral resources and energy confirming big petrol and diesel price cuts will come into effect at midnight.

The retail price of 93-unleaded petrol will decrease 62c/l, while 95-unleaded drops 76c/l.

Wholesale diesel prices see even bigger price drops of R1.26/l for 0.005% sulphur and R1.18/l for 0.05% sulphur.

Illuminating paraffin sees a reduction of R1.24/l.

These are better than the decreases predicted by the AA last week, and were attributed to a drop in the oil price during the period under review, despite the rand depreciating against the dollar.

From January 3 fuel prices will be:

GAUTENG/INLAND

93-unleaded: R22.1795-unleaded: R22.490.05% diesel: R20.630.005% diesel: R20.73COAST

95-unleaded: R21.770.05% diesel: R19.910.005% diesel: R20.02