Massive fuel price drop predicted for July
Relief could be on the cards for motorists as the Automobile Association (AA) predicts a massive fuel drop in July.
The association expects petrol to drop by 86 cents a litre, diesel by 68 cents, and illuminating paraffin by 58 cents next month.
AA spokesperson Layton Beard says the reduction could have been greater had it not been for the rand.
"June was the weakest month for oil in the last quarter, with crude briefly slipping below $60 to the barrel at mid-month.
"However, renewed tensions in the Middle East and a downturn in USA oil inventories have put pressure on the commodity, which has ticked up over the past few days."
Beard says the spat over the mandate of the Reserve Bank sent the rand tumbling.
"In the wake of the fracas, the rand's daily exchange rate against the US dollar spiked by more than 60 cents.
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