Update: Great news for motorists – Petrol price to drop once again at the end of February
"The resignation of Jacob Zuma as president of South Africa caused some strengthening of the rand, and we expect this to have additional impact on the fuel price before month-end," the AA said
Fuel prices are likely to drop again at the end of February, giving motorists further relief following a 30-cent drop per litre for both grades of petrol in January.
Also read: Petrol price to increase once again
Also read: Another petrol price increase on the cards
“The resignation of Jacob Zuma as president of South Africa caused some strengthening of the rand, and we expect this to have additional impact on the fuel price before month-end,” the AA said.
“However, this does not mean the economy is out of the woods. The state is facing enormous losses due to tax under-collections, mismanagement at state-owned enterprises, and a rising debt burden.
“The country is also on notice for a further credit rating downgrade, which might be triggered after next week’s Budget if the numbers come in behind expectations. We advise motorists to be extremely prudent and not bank on ongoing fuel price declines in the medium term,” the AA added.
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