Possible petrol price drop

JOBURG - The price of petrol might drop by between 20 cents per litre and 27 centre per litre on 30 August, according to the Central Energy Fund statistics.

The stats also showed that diesel may drop by two cents per litre.

Two weeks ago, the retail price of all grades of petrol increased by 32 cents per litre and the wholesale price of diesel by nearly 33 cents per litre, making it the highest fuel price on record.
Since August last year the price of petrol has gone up by 23 percent, according to data from the Automobile Association.
The statistics showed an average over-recovery on petrol of almost 24 cents litre on 93-octane and about 26 cents per litre on 95-octane. Over-recovery is an indication that the fuel price will fall.
While the rand/dollar exchange rate was still R10 against the dollar, the price of crude oil had dipped.
The AA also foresees a lower petrol price next month, though it cautioned that the predictions were based on un-audited data.
“Current projections are for a price decrease of between 20 cents per litre and 27 cents per litre for petrol. However, the overall prices of diesel and illuminating paraffin have been virtually flat. The data is showing that the diesel price should go down by about two cents per litre while illuminating paraffin currently indicates an increase of three cents per litre,” the association said.
But even if the decrease occurs, petrol would still be at its third-highest level in South African history.
In April, 95-octane petrol was selling for R13.20 in Gauteng, but decreased to R12.39. Currently, 95-octane sells for R13.55 in Gauteng.

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