Slight fuel price reductions are on the cards for May
Fuel relief possible in May - says AA
A slight fuel price reductions could be on the cards for May.
This is according to the Automobile Association (AA) which was commenting on unaudited mid-month data released by the Central Energy Fund.
“The average Rand / US dollar exchange rate has stabilised over the past month, reducing volatility in the fuel price,” the AA said.
“At the same time, international petroleum prices have retreated to a more moderate level, with reasonable stability evident over the past month.”
The AA said that the current data suggested a reduction in petrol prices of around 17 cents per litre, with diesel and illuminating paraffin both down by about 22 cents per litre.
“It remains to be seen whether the recent fuel price volatility has truly subsided, but the prevailing picture is that motorists will enjoy some relief at the pumps in May after the steep fuel price hikes of March and April,” the AA concluded.
