Petrol price dip set for July

FOLLOWING a slight drop in the fuel price last month motorists can expect a sharp decline in July. This is according to the Automobile Association, who was commenting on an unaudited mid-month data released by the Central Energy Fund (CEF).

The relief set for next month is reportedly due to the declining oil price and ‘stable Rand’.

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The price decrease could be between 60 and 64 cents per litre for petrol and, 60 cents for diesel and 57 cents for illuminating paraffin.

However, the association said that the fuel price could come under pressure if the three major ratings agencies were to downgrade Rand-denominated debt to junk status.

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