Ricochet News

More fuel price relief coming in September

By Charl Bosch - Aug 17, 2015
More fuel price relief coming in September

The Automobile Association (AA) has said a further decrease in the price fuel is expected next month, in spite of the rand continuing to decline in value against the various international currencies.

Responding to mid-month data released by the Central Energy Fund earlier today, the organisation said it expects the price of petrol to come down by between 55-64 cents per litre, and diesel between 53 and 57 cents per litre for September.

“Fortunately for South African fuel users, international oil prices have continued to slip, meaning there is still a reasonable prospect of a drop in the fuel price at the end of the month,” it said in a statement, adding that a decrease of 83 cents per litre could have been on the cards had the rand not depreciated.

A short while ago, the national currency, which fell to a 14 year low against the British Pound last week, was trading at R12.89 against the US Dollar and R20.13 to the Pound, while Brent Crude was trading at $49.15 per barrel.