8 May 2012
The South African Petroleum Retailers Association (Sapra) believes the fuel price could drop by more than 60 cents in June.
The latest Central Energy Fund data suggest that a drop of more than 50 cents a litre in June is possible if the rand/dollar exchange rate and oil prices remain at current levels.
South African motorists have been feeling the pinch this year, with five price hikes sending petrol prices to record levels.
However, Sapra’s Peter Noke added a cautionary note on Monday, saying: “One of the major contributing factors is the international crude price, and what the price does over the next few months is very difficult to predict.”
Sapa
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