‘Slight’ relief on the cards for motorists in August
The Automobile Association on Tuesday motorists can expect another slight drop in the fuel price in August.
In the past months, fuel prices have dropped significantly due to a stronger rand and lower oil prices.
The unaudited data from the Central Energy Fund (CEF) show a decrease of less than 10 cents in petrol and diesel prices and a slight increase in paraffin.
According to the data, the AA forecasts a drop of around 0.04 cents to 0.07 cents per litre in both grades of petrol.
Diesel is expected to decrease by around 0.01 cents per litre.
Spokesperson Eleanor Mavimbela said these forecasted prices may change.
“It’s important to remember that this is mid-month data and that the price outlook may still change drastically over the next two weeks before the official August adjustment is made, especially since the data is edging so close to revealing a different trajectory.
"The association says sharp increases in international product prices from the middle of June are pushing towards an under-recovery for all fuel prices.
"But, notes the AA, the Rand/US dollar exchange rate is assisting in buffering against a bigger increase for diesel and illuminating paraffin, bringing forward a nominal decrease for both 95 and 93ULP."
ALSO READ:
