AA projects some petrol price relief in May

The Automobile Association (AA) has tabled its final fuel price prediction for May by forecasting a decrease in fuel prices after last month’s record post-Covid-19 increases.

Commenting on the final unaudited report by the Central Energy Fund on Friday (30 April), the AA said it expects the price of petrol to drop by 13 cents a litre, diesel by 32 cents and illuminating paraffin by 23 cents.

“The exchange rate has continued its pleasing strengthening trend against the US dollar. International petroleum prices, which increased slightly in the first two weeks of April, have held steady since,” the AA said.

“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 new prices will be implemented this coming Wednesday (5 May).