Stronger rand, lower international prices factors for expected October fuel price drop - AA
The forecast reductions in both grades of petrol will bring its cost down to prices last seen in March and April 2022.
Petrol pumps at a fuel filling station. Picture: Zunaid Ismael/Eyewitness News
JOHANNESBURG - Motorists are finally cruising towards a cooler summer as fuel costs again look to drop in October.
This after the Automobile Association (AA) predicted more relief at the pumps, including a drop of more than one rand per litre for both grades of petrol, diesel and illuminating paraffin.
The association’s mid-month forecast is based on unaudited data from the Central Energy Fund.
The forecast reductions in both grades of petrol will bring its cost down to prices last seen in March and April 2022.
This means 93 octane petrol would cost R20.60 per litre and 95 octane would cost R20.91 per litre for inland areas.
The price would be slightly cheaper for both grades in the coastal areas.
Diesel at wholesale prices would drop below R19 per litre in the inland areas and drop below R18 per litre on the coast.
Spokesperson for the Automobile Association, Eleanor Mavimbela: "The expected reductions can be attributed to significantly lower international product prices. The strong performance of the rand against the US dollar is also playing a substantial role in the forecast reductions."
Overall, this would be the fifth consecutive drop in the petrol and diesel costs.