AA: Massive fuel price drop expected next month
South Africans have seen petrol price hikes every month since April, due to the weakening rand.
JOHANNESBURG - The Automobile Association(AA) says motorists can expect a massive drop in fuel prices next month.
South Africans have seen petrol price hikes every month since April, due to the weakening rand and an increasing oil price.
But the AA's Layton Beard says there is now good news for consumers.
"Our prediction at the moment is that petrol is poised for a drop of up to 83 cents a litre, with diesel set for a reduction of 45 cents and illuminating paraffin around 42 cents a litre down."
Beard explains what is driving the fuel price decreases.
"After initially weakening in the wake the United Kingdom referendum results in late June, the rand weakened steadily. At the same time, international petroleum prices have retreated over economic uncertainty following the vote as a result fuel process are showing favourable gains."