Petrol set to drop in May
Following yesterday's percentage point rates cut by the Reserve Bank - consumers could get further relief in the form of another substantial fuel price drop.
The Automobile Association spokesperson Layton Beard says the expectations are, there will be a significant fuel price decrease into May and South Africans will pay less for fuel when they exit the lockdown when they went into it.
Commenting on mid-month fuel price data, Beard says the price of petrol will drop by R1.89 a litre, diesel by R1.17 and illuminating paraffin by R1.88.
It would be the second month of record fuel price drops for the country.
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Beard says the spat between Russia and Saudi Arabia, which kicked off the plunge in the oil prices, has now been resolved.
But he believes with the world in lockdown due to COVID-19 -it will be a long time before there will be any massive oil price hikes become a reality.
