Petrol price could drop by another R1

There could be another R1 decrease in the petrol price, according to Mike Schüssler of economists.co.za.

He told Fin24 that two weeks ago he thought there might be a drop of another 25 cents and a week ago it seemed there could be a 50 cents drop on the cards.

“Now a decrease of one rand seems possible.

“If this does happen, it would be the second R1 decrease and bring the total price drop to over R4 or a saving of about R580 per month for the average motorist.”

This will boost consumer spending on other products and services.

Exactly when consumers can expect some relief at the petrol pump is not clear.