Petrol price drop expected
A 21 cents per litre decrease is also expected for diesel and a 12 cents drop likely for illuminating paraffin.
Motorists could be in for slight relief next month as the petrol price is expected to drop by around 11 cents a litre.
This according to the Automobile Association (AA), commenting on unaudited month-end fuel price data released by the Central Energy Fund.
A 21 cents per litre decrease is also expected for diesel and a 12 cents drop likely for illuminating paraffin. ‘International petroleum prices continued their gradual retreat during August, having pulled back by around ten per cent since the start of the month.
‘We attribute this mainly to the Organisation of Petroleum Exporting Countries (OPEC) gradually increasing oil production during the first half after previous production restrictions were removed,’ said AA spokesperson, Layton Beard.
He said the rand weakened a fair amount against the US dollar in August, meaning that South African fuel users will not enjoy the whole benefit of the lower oil price.
