Petrol and diesel are expected to go down

A FUEL price drop is expected next week.
Motorists and logistics companies are to have some relief as the petrol price is ex­pected to drop by an estimated 60c and the drop in the price of diesel is to be between 6c and 10c a litre.
Neil Roets, Debt Rescue chief executive, said had fi­nance minister Pravin Gord- han not increased the fuel levy, the fuel price decrease could have been as high as 90c a litre.
Roets said apart from the fuel price decrease, the short- to medium-term outlook for consumers looked increasing­ly gloomy with the depreci­ation of the rand playing a major role in the overall pic­ture.
“Every commodity we im­port from abroad has to be paid for in US dollars and that includes crude oil. As things stand at the moment there is a strong likelihood that the exchange rate may weaken further, which is going to offset the decreasing price of crude oil,” he said.
“The problem is that the severe drought in especially maize producing areas is going to lead to substantial increases in the price of all foodstuffs in­cluding staples like maize and wheat which will have to be im­ported at almost twice the local price.”

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