Petrol price to fall
HOLIDAY travellers can expect some relief at the petrol pump in the new year, as the price of petrol – which was threatening to hit R15/litre – could drop next Wednesday on the back of a stronger rand.
But consumers are in for a rough ride next year as the prices of other essential commodities continue to rise.
The rand has been holding strong and is the strongest performer among emerging market currencies in recent days. When the local market opened yesterday after the Christmas break, the rand inched firmer by almost 2.47% at R12.47/$.
The local unit is still riding the wave of positive sentiment following Cyril
Ramaphosa’s election as the leader of the governing ANC and helped by a global rally in resources prices.