The Energy Department has confirmed a huge petrol price drop of R1.22 for Wednesday , January 2nd 2019.

The price of diesel will decrease by R1.53 and illuminating paraffin will go down by R1.23.

“The main driver of these reductions has been sagging international petroleum prices, spurred on by the USA which is trending towards becoming a nett exporter of oil. Should this ever come to pass, the power of the OPEC nations to influence petroleum prices would be reduced considerably, leading to increased oil price stability,” said the Automobile Association.

More to follow.