Petrol price expected to decrease

Lloyd Doyle
November 1, 2018

"As a result‚ we expect the petrol price to drop by about 16c a litre‚" the AA said.

"Before the end of January 2019 there will be a proposal on the table", Radebe said during a question-and-answer session in parliament on Wednesday.

The price of petrol was reduced by Rs2.41 bringing it down to Rs92.83 per litre.

The proposal has been circulated to the fuel wholesale and retail industries‚ which have been asked to comment on it. He said this would go a long way in alleviating pressure on consumers.

The AA also said that global petrol prices have shown modest declines in the past month which could lead to the lowering of domestic prices.

The fuel prices across the country were facing a continuous increase over the last few months - up until two weeks ago, when the price started going down after the Central and State Governments began their efforts to reduce fuel prices.

Consumers have experienced record high fuel prices due to a rising oil price and weak rand.

Both diesel and illuminating paraffin experienced substantial jumps in their landed prices, whereas the landed price of petrol remained nearly unchanged in October.

The official fuel prices for November will be announced by the Department of Energy.

The Association noted worldwide petroleum prices had shown modest declines in the past month, which it described as "a cause for optimism".

If the rand continues its relative stability it could mean more relief before the festive season.

2018 has been one of the most unrestrained years in history for South African fuel users.

Other reports by Iphone Fresh

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