Fuel prices forecast to drop in April
Mid-month data shows that we're in line for a massive drop in the cost of fuel next month.
The Automobile Association's analysis of the unaudited data indicates that although the Rand remains weaker against the US Dollar - the major slump in international oil prices was more significant.
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The outbreak and spread of COVID-19 has weakened financial markets overall, and investors have become more cautious.
The AA's Layton Beard says: "The current data shows petrol down by up to R1.11 a litre, diesel by R1.10 and illuminating paraffin by R1.18. However, these declines must be weighed against the 25 cent increases to the fuel levies, which will mean that these decreases will be a little less than what is predicted now."
"But, the outlook going forward is positive and based on the current data, we also expect that there may be further fuel price decreases in the next couple of weeks ahead."
