The Automobile Association (AA) on Friday estimated a 91 cents drop in the mid-month fuel price as the demand for oil continues to waver.
“Crude laboured above $70 a barrel for large portions of April and May as a result of the continued tug-of-war between Opec (Organisation of Petroleum Exporting Countries).”
Based on data produced by the Central Energy Fund, AA has predicted a decrease of 91 cents (per litre) in the price of petrol, 70 cents in the price of diesel and 62 cents in the price of illuminating paraffin.
“If stability returns to the rand and oil settles at its lower level, there may yet be more good news in the pipeline.”
The price of fuel has increased by a total of R2.78 in the last six months.