Fuel to cost less at pumps next month

The energy department says the price of diesel will also go down but by between 51 and 54 cents.

An economist though says while this is a significant decrease which will bring some relief for consumers, South Africans could have had the opportunity to put much more away in terms of savings.

But the rand has been struggling - reaching a record low -  of R14 against the US dollar this week. 

This as global markets reacted to the crash in the Chinese stock market. 

Azar Jammine of Econometrix says we're likely to see the rand in this region for a while.

"I think the currency could go back to R12 to the dollar at some point over the next three months but I don't see it rising very much more than R12 to the dollar.

"The main reason is that China's economy is slowing down significantly and that is causing the demand for raw materials to slump and the prices of many of these commodities have fallen and South Africa is a big exporter of such commodity," he said. 

Illuminating paraffin will decrease by 55 cents/litre and Liquefied Petroleum Gas (LPG) will decrease by R1,15/kilogram.

 

(File photo: Gallo Images)