GOOD NEWS: Petrol prices set for a big drop

GOOD NEWS: Petrol prices set for a big drop

How much do you spend on petrol monthly?

GOOD NEWS: Petrol prices are set to reduce by a whole 20c in the new month
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The past year and a half has been turmoil for many people, for many reasons, but like many things in life, there is always a snowball effect. The recent unrest didn't make things easier with the rise in the cost of everything...

Rumour had it that we should be prepared for another hike in the consistently growing petrol price that we have had succumb to. For motorists and public transport passengers, this comes with a sense of stress and anxiety. 

For motorists, the stress is immediate as they have to fork out more to fill up their tanks. But for public transporters the threat of a fare increase could come at any moment, considering the consistent price hikes that we have been experiencing over the past couple of months. 

However, it looks like the powers that be decided to give us all a well deserved break in their announcement that the price of petrol may in fact be reducing in the new month. 

"According to the update, petrol is likely to decrease by about 18c a litre for 95 unleaded. A litre of 93 unleaded could decrease by 20c, though diesel is looking set for a smaller decrease, or even a slight increase, if current trends persist. Currently, 95 unleaded petrol costs R17.62 in the coastal areas and R18.34 in the inland regions, where the slightly cheaper 93 unleaded petrol retails for R18.15." (IOL)

But it's safe to say that we shouldn't get too excited about the news. Considering that these reductions don't always take into account the retail margins and also the prices differ inland. 

"The Automobile Association (AA) warned that fuel prices were set to increase at month end, due to strong oil prices and a flat rand/dollar exchange rate. The AA said it had noted oil prices spiking above $75 (R1 294) a barrel in recent days, and the upward trend had been evident throughout the month of September." (IOL)

It's important to be smart and savvy when it comes to stretching your rand in any circumstance. Check out this article on how smart way to help you save on fuel. 

Click here to read. 

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