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Daily Investor reports that motorists are set for significant relief at the pumps next week, with petrol and diesel prices expected to come down by over R1 per litre.
Lower global oil demand has put downward pressure on prices in recent months, while a stronger rand has made the import of petroleum products cheaper. The next round of petrol price cuts, following four consecutive months of cuts, will be implemented on Wednesday next week. Data from the Central Energy Fund shows there will be significant cuts to all grades of fuel next week. Petrol 93 is expected to decrease by 110 cents per litre; petrol 95 by 118 cents per litre; diesel 0.05% by 112 cents per litre; and diesel 0.005% by 111 cents per litre. But, these adjustments may turn out to be different next week as the global price of oil can fluctuate, and the rand can strengthen or weaken. However, South Africans are almost guaranteed to see the price of fuel decline next month, with the only question being by how much.
- Read the full original of the report in the above regard by Shaun Jacobs at Daily Investor
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