Good news for motorists is that the price of fuel could drop by as much as 20 cents per litre in July, the Department of Minerals and Energy said on Monday.
”We have a big over-recovery at the moment, so the trend is downwards,” said Hein Baak, spokesperson for the department.
He did not want to commit himself to a precise figure, but said since the department was in its fuel price review period, ”anything was possible”.
The SABC reported on Monday that a senior economist at Econometrix, Tony Twine, had said the fuel price could drop by 20 cents.
Twine said the lower international oil price and the firmer rand were both factors pushing the fuel price down.
Baak said the price was expected to drop even further in August, if the current trends continued. – Sapa