Petrol price drop: Temporary relief for consumers - economist
Updated | By ECR Newswatch
The relief for consumers in this week's fuel price drop may be short-lived, according to economist, Fanie Brink.
At midnight tomorrow, petrol will see a decrease of 36 cents a litre, while diesel will drop by between 44 cents and 47 cents per litre. Illuminating paraffin will come down by 26 cents.
"It's positive news for this month. The Minister of Finance's announcement on increased fuel levies will change this. Also, we had the huge appreciation of the external value of the rand - first in December due to the elective conference and in February due to the [swearing-in] - it did appreciate somewhat further which had a positive impact on the price," he said.
Finance Minister Malusi Gigaba announced though that as of April - the fuel levy will increase by 22c/litre and the Road Accident Fund (RAF) levy by 30c/litre.
A:SO READ: Fuel price expected to decrease in March
Brink has also weighed in on the impact of international prices of petroleum products.
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