This decline in price has been driven by steadily weakening international oil prices over the past month, despite fresh sanctions on Russia’s two largest oil companies and a wave of renewed tension between the US and China, Neil Roets, CEO of Debt Rescue, says.
“Sadly, this relief is simply not enough of a boost for consumers’ budgets to make any real difference in their lives. South Africans are trapped in a relentless cost-of-living price increase cycle, and our coffers are empty as we head towards December.
“While high electricity and food prices continue to decimate household budgets, the cost of fuel affects the holiday travel plans of households significantly. The impact of the still high petrol price is that millions of people will have to sacrifice their annual trip to visit their families over the festive season and stay at home this year.