Newest prediction: Fuel prices set to dip in May
The Automobile Association is hopeful the recent streak of price stability will continue to provide more price relief to fuel users.
IN the wake of reports that the petrol price would increase in May, the Automobile Association (AA) has forecast some relief for consumers this month.
The organisation said it expected the price of petrol to decrease by around 13 cents per litre, while diesel and illuminating paraffin prices would drop by 32 and 23 cents respectively.
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“As we head into winter, South Africans who use paraffin for lighting, cooking, and heating especially will no doubt be glad at this news. For its part, the AA is hopeful the recent streak of price stability will continue to provide more price relief to fuel users in the short to medium term,” the association added.
The association said fuel prices are officially calculated and adjusted on the first Wednesday of every month by the Department of Mineral Resources and Energy.
“The The AA relies on publicly available fuel price data from the Central Energy Fund (CEF) to compile its forecasts,” the entity said in its latest statement.
According to the association, the department is the only entity which regulates, sets, and adjusts fuel prices in South Africa.
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