Motorists could be in for some savings at the fuel pump
Motorists can expect to breathe a little bit easier at the fuel pump next month, according to the Automobile Association (AA).
This follows the release of the Central Energy Fund’s unaudited mid-month fuel price data.
AA Spokesperson Layton Beard says they're predicting a drop in prices across the spectrum.
“The current data is projecting a decrease of between 26c/l and 36c/l for petrol, a whopping 88c/l reduction in the price of diesel and a big drop of 83c for illuminating paraffin going into the new month.
“The rand’s remarkable rally against the US dollar in recent weeks and retreating international oil prices have resulted in lower landed prices of refined fuels in the country and this is signalling good news for consumers at the end of September,” Beard explains.
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The UIF also announced the extension of the Covid-19 Temporary Employer-Employee Relief Scheme (TERS) benefits until the end of the National State of Disaster, but no new applications will be allowed. The fund's Makhosonke Buthelezi says they are working with the Department of Home Affairs and other government databases to verify about 5 million applications.
But he cautions motorists to not get over-excited.
“We do caution however that oil prices can see-saw as world oil demand and supply gradually rebalance but if the current indicators of the exchange rate and oil prices hold steady this will give consumers a much needed breather at the pumps in the new month.”
