Automobile Association of SA (AA) predicts a decrease in petrol price in August.
Motorists may receive some good news next month according to encouraging mid-month data from as the Automobile Association of SA (AA).
According to the AA data suggests that the petrol price could decrease by between 47 cents to 49c a litre. Diesel could go down by about 70c, while the price of illuminating paraffin might drop by 68c 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 association said.
“And despite some Rand weakness against the US dollar in the last few days, the South African currency unit has traded in a fairly tight band around R12,40 to the dollar since mid-month,” the AA added. “The result is that most of the benefit of lower international product prices will be passed on to the motorist.”
The AA based its prediction on recent unaudited data released by the Central Energy Fund (CEF) this week.
If this is the case motorists can except a little relief in their monthly budget come August.
– Source: Arrive Alive and Fin24
