Fuel comes off the throttle
Motorists are in for some good news - something they sorely need in an increasingly gloomy economic environment. The petrol price is likely to fall by between 47c and 49c a litre next month, according to the Automobile Association.Interpreting data from the Central Energy Fund, the AA said international crude oil prices were in retreat.This means a sizeable fall in all fuel prices, with diesel likely to come down by about 70c/l and illuminating paraffin by 68c/l."The oil price has shown a gradual downward trend and has continued to decline since our mid-July review of the fuel price picture," the AA said yesterday."Despite some weakness against the US dollar in the last few days, the rand has traded in a fairly tight band around R12.40 to the dollar since mid-month."The result is that most of the benefit of lower international product prices will be passed on to the motorist," said the association in a statement. ..
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