Fuel price may drop more than expected

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Fuel price may drop more than expected
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The forecast a few weeks ago was for a ‘humble’ decrease, but the outlook has improved.

South African motorists can look forward to a significant fuel price drop in June, with 95 and 93 octane unleaded petrol both set to decrease by around R1.06 per litre and diesel by around R1 per litre, according to a statement from the Automobile Association on Monday.

“While the decreases will bring relief, the cost of fuel is still higher now than it was just a few short months ago, and again points to the financial pressure many South Africans still experience,” says the AA. High fuel prices and interest rates are still putting considerable pressure on South Africans – especially those with debt. Read: SA consumer spending pressures could ease in second half – analysts The AA reiterated its call for a review of the fuel pricing mechanism to “determine if there are any factors that can be permanently revised to mitigate against rising fuel costs in future”. “Consumers are embattled, and it is incumbent upon government to find ways to deal with this situation.

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Moneyweb /  🏆 5. in ZA

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