Petrol price expected to drop again in September
The Automobile Association (AA) is predicting a significant decrease in fuel prices across the board in September following a drop in international oil prices.
Oil prices slumped nearly five percent Monday on data showing China's economic recovery stuttering under Covid-19 restrictions and a slumping property sector.
Earlier this month the price of petrol decreased by R1.32c per litre.
95 Octane petrol is expected to drop by R2.60 per litre, and 93 Octane to drop by R2.45 per litre.
While diesel is set to be reduced by around R2.30 and the price of illuminating paraffin to go down by almost R2.00 per litre.
“With these expected decreases, the price of 95ULP will dip below R23 per litre and the price of 93ULP will cost just more than R22.50 per litre While fuel is still more expensive now than it was at the beginning of the year, these forecast decreases do offer some relief,” said the AA in statement.
Meanwhile, Financial commentator Jason Harrison says there is lot of pressure on the petrodollar.
"There is lot of pressure on supply and demand, a lot of the producers have been trying to control the oil supply and this has to do with the tension between east and west. There is lot of tension between Russsia, China and America."
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