Good news for motorists

The petrol price declined with 69 cents a litre for all grades since Wednesday, September 2 and the diesel price dropped by around 54 cents a litre; this comes after last month’s 51 cents decrease.
This is good news for hard-pressed consumers who are facing increasing food and electricity prices as well as interest rate hikes. It comes despite a plunging rand. The Department Of Energy says a declining international oil price contributed to the price drop.
International petroleum prices have recently reached six-year lows and the Automobile Association (AA) is concerned over the trajectory the oil price could take when it reaches the bottom of the cycle. “If and when the oil price flattens out, or increases, motorists will be fully exposed to any rand weakness,” said the AA.