Globally destructive economic instability has pushed fuel prices into drastic retreat, leading to some very rare good news for SA motorists. This is according to the Automobile Association (AA), which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund
Globally destructive economic instability has pushed fuel prices into drastic retreat, leading to some very rare good news for SA motorists.
The mid-month data showed petrol down by a massive R1.89 a litre, with illuminating paraffin dropping by R1.88 and diesel by R1.17. “World commerce has all but collapsed in the wake of the Covid-19 pandemic. Even assuming a fairly rapid end to the pandemic, it will take many months for the global economy to work up a new head of steam, and possibly years before it returns to pre-Covid-19 levels. Absent further shocks, we expect it to be a long while before substantial oil price hikes are a reality,” notes the AA.
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