Good news for motorists with over R3,000 in licence fees, and BYD’s offices raided over alleged Land Rover theft

Petrol prices are expected to fall by a significant amount this December, though diesel users will be hit with an increase.

This is according to new data from the Central Energy Fund, which shows that petrol and diesel are currently experiencing an over-recovery, translating to a price reduction.

However, the government plans to reduce the fuel price relief measure it implemented in November, adding 50c and R1.50 back to the petrol and diesel price, respectively.

Petrol will still see a reduction in the ballpark of R2 per litre, though diesel prices will increase due to the reintroduced tax.

In related news, oil prices fell again today after US President Donald Trump announced that further strikes on Iran wouldn’t be necessary.

Brent Crude dropped below $92 per barrel on hopes for an earlier end to the war, following the US midterm elections where the Democrats saw a major win, according to Bloomberg.

“The midterm results have significantly narrowed Trump’s options for a large-scale, long-term military operation against Iran and that’s reflected in his rhetoric,” said Takahiro Asaoka, senior economist at Itochu Research Institute.

5 important things

Good news for anyone who owes over R3,000 in licence fees in South Africa’s richest province: The Gauteng Department of Roads and Transport is giving motorists who owe more than R3,000 in motor vehicle licence penalties and arrears the chance to settle these over time, though it requires a 30% deposit and has a maximum instalment period of 10 months [TopAuto].

Chery recalls 53,882 cars in China: Chery has recalled thousands of Omoda 5 models in China after a viral incident in Malaysia where the car’s rear axle detached. The problem was caused by a rear axle welding defect and applies to units built between 2022 and 2023 [CarNewsChina].

Transport minister responds to RAF’s request for petrol levy increase: Barbara Creecy said she wouldn’t approve the RAF’s request to raise the RAF Levy from R2.25 to R3.00 per litre. She said it was unreasonable to expect motorists who are already under financial strain to pay more for an institution with chronic inefficiencies [MyBroadband].

BYD offices raided over alleged Land Rover intellectual property theft: BYD’s offices in the Netherlands were raided following a court order obtained by Jaguar Land Rover, alleging that the Chinese carmaker copied elements of the Land Rover Defender. JLR requested that evidence be seized to be used in legal proceedings [Car Mag].

Kia SA boss disappointed by Tasman bakkie sales: Kia SA CEO Paul Turnbull said that sales of the Tasman double cab were less than they’d hoped for, but that the brand remains optimistic that it will reach its sales target [Cars.co.za].