Massive fuel price drop on the cards amid SA lockdown
The expected decreases will bring the country’s fuel prices to levels last seen in late 2017 and early 2018.
SOUTH Africans can expect to see the largest fuel price decrease on record at the end of March, according to the Automobile Association.
The AA was commenting on unaudited month-end fuel price data released by the Central Energy Fund. The fuel price will be adjusted next Wednesday, 1 April.
“The crude oil price war between Saudi Arabia and Russia continues unabated with demand for oil further suppressed as world economies retreat due to the coronavirus pandemic,” the AA said.
“Not even the precipitous fall of the Rand against the US dollar has been able to arrest the fuel price reductions, which are historic.”
ALSO READ: Plan, don’t panic, urges Durban business coach
Unleaded 95 petrol is set for a stunning R2.18 per-litre drop, with 93 set to decrease by R2.05. Both grades of diesel are expected to fall by around R1.65, with illuminating paraffin down R1.98.
“In practice, all these drops will be slightly less, due to the 16-cent increase in the fuel levy, and nine-cent increase in the RAF levy,” the AA said.
The expected decreases will bring the country’s fuel prices to levels last seen in late 2017 and early 2018.
“It is unfortunate that these massive reductions are coming at a time where private motoring is severely curtailed, but we would remind motorists that in terms of the lockdown regulations, they are still allowed to fill up their vehicles,” said the AA.
ALSO READ: Maintain responsible driving during Covid-19 lockdown, urges AA
The AA also said the fuel price drops would provide much relief to road haulage operators and offset some of the economic damage resulting from the lockdown.
“We hope that, at this difficult time, companies that benefit will pass these savings back to consumers,” the AA said.
In addition to the regular fuel price outlook, the AA is also announcing that it will provide emergency battery assistance for healthcare workers at no charge during the lock-down period.
“It is critical that doctors and nurses are not inconvenienced by faulty vehicle batteries either on their way to hospital to treat patients or after a long shift tending to the sick. We will offer free battery checks and jump-starts to these healthcare workers; they can call 0861 000 234.”
Do you want to receive alerts regarding this and other Highway community news via Telegram? Send us a Telegram message (not an SMS) with your name and surname (ONLY) to 060 532 5409.
You can also join the conversation on Facebook, Twitter and Instagram.
PLEASE NOTE: If you have signed up for our news alerts you need to save the Telegram number as a contact to your phone, otherwise you will not receive our alerts.
Here’s where you can download Telegram on Android or Apple.
