JOHANNESBURG - Fuel prices are dropping across the board on Wednesday.
A litre of unleaded 93 petrol will go down by 62 cents while unleaded 95 will drop by 66 cents.
The last time motorists paid less than R21 a litre was in 2022.
There's also a massive cut in diesel prices.
A litre will now cost up to R1.50 less.
Paraffin is also going down.
The Fuel Retailers Association has welcomed the adjustment, saying the reduction will not only bring relief to motorists but also to businesses.
Reggie Sibiya from the association says January is often a slow time for fuel retailers, this is because consumers have to deal with back-to-school expenses, while others recover from the financial strain of the festive season.
He adds that at the same time, South African consumers are under immense credit pressure, which ultimately has an impact on their sales.
Sibiya attributes the decrease to global factors, including food oil prices, which have gone significantly down.