Petrol Price Reduction Helps Consumers
As the Rand weathers the recent upheaval over possible plans to change the Reserve Bank Policy and the idea of nationalising the central bank, the currency has surprised many by staying fairly stable against the US Dollar (after a little bit of a hiccup). This, along with supply factors has helped in bringing the price of fuel down. As a result, the cost of fuel has fallen for the second consecutive month, easing the burden of commuters and transport companies.
‘the cost of fuel has fallen for the second consecutive month’
This should stall any “excuse” price hiking by suppliers and retailers assisting consumers from having to pay more for the same products they are used to using.
In June the price of petrol dropped by 25 cents and this month by a further 69 cents, making it nearly a Rand cheaper per litre in just 45 days. Paraffin has also dropped significantly during the same time helping those who rely on it for lighting and cooking (and staying warm in winter).
Though we are bound to see the price creep up again in the near future it has been a good few weeks for consumers and for now, at least, the local cost of fuel will follow the global drop in prices.