Huge decrease in fuel price kicks in Wednesday
As of Wednesday morning, the price of both grades of petrol will come down by a whopping R1,84 a litre. And paraffin costs are dropping by R1,78.
From Wednesday morning, the Energy Department says diesel users can expect a decrease of between R1,45 and R1,47 per litre.
And paraffin costs are dropping by R1,78.
Economist, Dawie Roodt says this due to a number of factors.
"The oil price actually collapsed in the last couple of weeks. There are a number of reasons for that. But we have other producers in the world producing the oil. Like the American and the so-called, Frackers," Roodt said.
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Roodt says the costs of producing oil has dropped.
The economist also spoken about the positive knock on effect.
"The upward pressure on the inflation rate in South Africa is likely to abate - we can see that inflation has dropped a bit," he said.
