More fuel price cuts are expected in the coming months. As any driver knows, the cost of petrol is a major expense and South Africans have experienced an ever-increasing fuel price over the past year. However, there may be some relief on the horizon once again! Global oil prices have been falling recently, likely leading to further reductions in the cost of petrol.
While prices are not expected to drop below R21 per litre, the relief will be welcome nonetheless. However, even though oil prices have fallen, the risk of a volatile Rand still exists. As a result, motorists should take advantage of any price decreases.
Also read | Fuel price: SA motorists finally get some relief
As the end of the month approaches, market watchers predict that petrol prices will drop by around R1.50 next month. However, diesel prices are expected to rise by approximately 65 cents. The Department of Mineral Resources and Energy has stated that Angola and Nigeria supply half of South Africa’s oil imports.
Since OPEC (the Organization of the Petroleum Exporting Countries) controls global oil prices, this doesn’t leave much room for consumers to save money. Nevertheless, even a slight price decrease can make a big difference for drivers. Hopefully, the predicted price drop will materialize next month so that motorists can enjoy some savings at the pump.
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