The Department of Energy on Friday announced that petrol will decrease by between R1.22 and R1.23 on Wednesday.

The price of diesel will be between R1.53 and R1.55 a litre cheaper. 

This is the second consecutive fuel price drop recently.

In December both grades of petrol came down by R1.84 a litre to R15.24 a litre in Gauteng, which is a far cry from the R17.08 motorists had to fork out in November.

"The average international product prices for petrol, diesel and illuminating paraffin decreased during the period under review," the department said in a statement.

The Automobile Association (AA), which predicted that the fuel price would come down, said the drop at fuel pumps will bring much needed relief to consumers battered by considerable increases throughout the year.

"The main driver of these reductions has been sagging international petroleum prices, spurred on by the USA which is trending towards becoming a net exporter of oil. Should this ever come to pass, the power of the OPEC [Organisation of the Petroleum Exporting Countries] nations to influence petroleum prices would be reduced considerably, leading to increased oil price stability."

Jacaranda FM News