Fuel prices have made a turnaround from last month, with across-the-board price reductions in all fuel types expected when the Department of Mineral Resources and Energy announces adjustments for May. This is according to the Automobile Association (AA) which was commenting on unaudited month-end fuel price data released by the Central Energy Fund.
Petrol is expected to be cheaper by around 13 cents a litre, with diesel showing a 32 cents-a-litre drop and illuminating paraffin down by 23 cents.
“The exchange rate has continued its pleasing strengthening trend against the US dollar. International petroleum prices, which increased slightly in the first two weeks of April, have held steady since,” the AA says.
As a result, the Association says fuel users are expected to have a breather in May from the series of fuel price increases earlier in the year.
“As we head into winter, South Africans who use paraffin for lighting, cooking, and heating especially will no doubt be glad at this news. For its part, the AA is hopeful the recent streak of price stability will continue to provide more price relief to fuel users in the short to medium term,” the Association concludes.