South Africa’s new fuel prices will be seen to hit the country’s recession to the curb for the month of July 2017.
According to Business Report, official figures released this month reveal that fuel costs are expected to take an enormous dive next month; which CarZar is sure will be a major assistance to those affected by South Africa’s recession.
The figures indicate an economic dwindle of 0.7% during the first three months of 2017 – driving the country towards a pit-stop to ‘recession’.
Since the start of June 2017, petrol prices have dropped by 25 cents. As claimed by the Department of Energy, next month’s expected ‘lower’ fuel prices will see:
- In Gauteng, the price of ULP and LRP can decline by 59.2 cents per litre
- Diesel with 0.005% sulfur can cut by 59.6 cents per litre
But, why all of a sudden?
In economist Fanie Brink’s opinion, the slash in fuel prices might be due to a fall in crude oil prices to $47 per barrel. Furthermore, strongly withstanding the exchange rate against other currencies, petrol prices can reduce by 3.4 cents per litre, while diesel prices can reduce by 3.3 cents per litre.
Here’s are the expected fuel prices for July 2017:
- 93 Petrol – R12.73
- 95 Petrol – R12.95
- 0.05% Diesel (wholesale) – R10.98
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