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Possible Fuel Price Breather for Cash Strapped South Africans
Apr 15, 2021
15:04:2021
Cash strapped South Africans might be in for a fuel price breather in May according to the Automobile Association (AA).
The association said in a statement that the reasons for this were due to stability on international petroleum markets and a stronger exchange rate, commenting on unaudited mid-month fuel price data released by the Central Energy Fund.
The current data shows the prospect of a 32 cents-a-litre drop in the price of diesel, and 27 cents for illuminating paraffin.
However, the price of petrol is set to see and increase of 6 cents a litre, but the AA says the exchange rate’s performance looks set to see a decline in the petrol price. So, if the current trends continue, there may be across-the-board relief from the recent series of fuel price hikes. The rand has gained almost 50 cents against the US dollar since mid-March.
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Some fuel price relief could be on the cards, but too early to call
By Motoring Staff
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JOHANNESBURG - It looks like South African motorists could be in for a fuel price breather in May, following months of hefty increases. But that’s assuming current trends persist.
According to the Automobile Association, mid-month data from the Department of Mineral Resources and Energy is pointing towards a 32 cents-per-litre decrease in the price of diesel.
However, petrol hasn’t fared as well, with the current average for the month pointing to a six cent increase. However, the petrol equation has turned positive in the last few days as the rand gained momentum, and if current trends continue then a small petrol price decrease could be possible. That’s assuming that there are no nasty oil price shocks on the horizon.