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BusinessLive reports that according to the Automobile Association (AA), motorists can expect another big fuel price reduction in October.
Commenting on unaudited data from the Central Energy Fund (CEF), the AA said both grades of petrol, diesel and illuminating paraffin prices were set for substantial price drops after four consecutive decreases. “According to the data, ULP93 will decrease by around R1.18c/l and ULP95 will decrease by R1.26/l. Diesel is set to decrease by around R1.10c/l, with illuminating paraffin reducing by around R1.04c/l. The forecast reductions in ULP93 and ULP95 will bring this fuel cost down to prices last seen in March and April of 2022,” the AA indicated. The expected reductions are due to significantly lower international product prices and the strengthened performance of the rand against the US dollar. “These decreases are positive and will ease pressure on our economy and consumers. Of course, this is only one indicator, and we cannot ignore higher interest rates and food prices but a decrease in fuel costs will make a difference to many,” the AA said.
- Read the original of the short report in the above regard at BusinessLive
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