By Staff Reporter
POLOKWANE-According to the Automobile Association (AA), South Africans can look forward to some relief at the gas station in August. The decrease in global oil prices, is what is causing the fuel price to be lessened, is being offset by a powerless or rather smaller amount of rand/US dollar exchange rate.
The Central Energy Fund’s most recent unaudited mid-month data show that South Africans can expect some relief at the gas pump in August.
According to the most recent data, 95ULP gasoline is down by roughly 90c/l, 93ULP is down by R1.07/l, and diesel is down by 91c/l. On the other hand, it shows that lighting paraffin will lose about 94 degrees Celsius per litre of temperature.
The data also indicate that the lessen in global oil prices is what is driving fuel prices down, but this is being tempered by a weaker rand/US dollar exchange rate, which is slowing the otherwise sharp decline in fuel prices.
Based on the information available, it is predicted that the cost of gasoline and diesel will drop by about 15 cents per litre and 32 cents per litre, respectively.
The association emphasized that, despite the anticipated drops, fuel prices in South Africa are still high and will continue to have an impact on the economy of the nation in the months to come.