National
Fuel price drop expected─── 15:49 Thu, 30 Jul 2015
Johannesburg - An economist is predicting a 49-cents drop in the petrol price next month.
First National Bank Chief Economist, Sizwe Nxedlana says the expected decrease is mainly due to the significant decline in the global oil price.
Nxedlana says looking forward, South Africa is likely to benefit from continued weakness in international oil prices.
Nxedlana has however warned the benefit from the low oil price is likely to be muted somewhat by the weakness in the exchange rate, with rising interest rates in the United States and the rand likely to remain under pressure.
Nxedlana has however warned the benefit from the low oil price is likely to be muted somewhat by the weakness in the exchange rate, with rising interest rates in the United States and the rand likely to remain under pressure.
Meanwhile the AA predicts that the price of diesel should go down by 70-cents a litre.
The department is expected to announce the fuel price adjustments tomorrow.
East Coast Radio
Sizwe Nxedlana :