Aug 20, 2014 economy, business, news
According to the most recent media release from the AA of SA: "Substantial drops in fuel prices are on the cards."
The Automobile Association of South Africa was commenting on the unaudited fuel price data released by the Central Energy Fund on August 15. “International petroleum prices have continued to moderate since late July,” said the AA. “In addition, the Rand / US dollar exchange rate has remained within a narrow band and is showing signs of a slight strengthening in favour of the Rand. These two positive factors have resulted in a large over-recovery on petrol in particular."
The over-recovery for petrol ranges between 59 and 65 cents per litre, while diesel and paraffin have seen more modest over-recoveries, at 15 cents and 12 cents per litre respectively.
The AA said that if the exchange rate remained stable or firmed while the two month-long decline in international petroleum prices continued, South Africans could be in line for one of the largest drops in the fuel price in recent times. “Conditions look ripe for motorists to receive some much-needed relief at the pumps come the end of August."
We certainly look forward to seeing that in the next week or so!
Mar 20, 2025 0
Mar 18, 2025 0
Mar 17, 2025 0
Mar 14, 2025 0