Motorists can expect a slight reduction in fuel prices by next week Wednesday.
Economist at FNB, Koketso Mano, says this reduction could be made possible by the overall price of Brent crude oil which has significantly fallen over the past 2 weeks.
The current over-recovery, on the country’s fuel prices, will also add to this reduction.
Mano says the projection is that petrol prices may reduce by R1 per litre, while diesel prices may drop by up to 60 cents per litre.
This reduction will however not result in an immediate reduction in the cost of daily goods such as food and transport.
Mano says the more than R2 increase in fuel prices, which was announced earlier this month, will continue to affect the prices of goods for a while still.
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⛽️Although economists predict that the country's fuel prices will see a decrease next week, the more than R2 increase in fuel prices will continue to affect the prices of goods for a while still.
— Smile90.4 FM (@Smile904FM) July 27, 2022