BusinessLive reports that according to the Automobile Association (AA), retreating oil prices have painted a rosier picture for South African fuel users than has been the case for much of 2019.
Commenting on unaudited mid-month fuel price data released by the Central Energy Fund, the AA predicted a decrease of 91c/litre in the petrol price, 70c in the diesel price, and 62c for illuminating paraffin in July. The association noted that there had been a remarkable drop in the price of oil since the end of May, with the commodity currently trading at about $61 a barrel. But, South Africans were not getting full value, “thanks to rand jitters in the wake of the ANC top leadership trading jibes over the future of the Reserve Bank." Nonetheless, AA expects the price drops to be substantial
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