South African motorists may soon enjoy lower fuel prices as international oil prices decline and the local currency strengthens. Economic analysts predict that petrol prices could drop by approximately 85 cents per liter in April.
Johann Els, Chief Economist at Old Mutual Group, estimated that current data suggests a petrol price decrease of around 85 cents per liter. Efficient Group Chief Economist Dawie Roodt expects an even larger reduction of up to R1 per liter, attributing it to a favorable exchange rate and declining crude oil prices.
Independent economist Bonke Dumisa confirmed that the current market trends indicate a significant fuel price cut, which could also contribute to curbing inflationary pressures.
Source: ol.co.za
