Petrol price could drop by over 40 cents
JOBURG - Motorists could soon be smiling all the way to the petrol pump since the Automobile Association of South Africa (AA) expects that the petrol price will decrease.
According to the AA, current data shows that the petrol price could decrease by 47 cents to 49 cents a litre.
Commenting on unaudited data released by the Central Energy Fund, the AA said the price of diesel could go down by about 70 cents and the price of illuminating paraffin could drop by 68 cents a litre.
“The oil price has shown a gradual downward trend, and has continued to decline since our mid-July review of the fuel price picture,” the AA said.
The AA added that the recent downward trend in international petroleum prices would require a substantial reversal to heavily impact South African fuel prices.
“The short- to medium-term outlook for the fuel price is therefore likely to depend largely on the exchange rate,” the Association concluded.
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