Neelam Rahim | neelam@radioislam.co.za

2-minute read
23 August 2024 | 19:56 CAT

Image/Automobile Association (AA)

South Africans, struggling in a stressed economy, have some good news to look forward to.

Fuel prices are set to decrease across the board in September, marking the fourth consecutive time this year that fuel prices have dropped in South Africa.

The Automobile Association (AA) says that based on unaudited mid-month data from the Central Energy Fund (CEF), petrol, diesel, and illuminating paraffin will cost less in September than at any other time this year.

The Automobile Association (AA) reports that ULP95 is set to decrease by approximately 68 cents per litre, while ULP93 will drop by 63 cents per litre. Diesel prices are also expected to decline by around 52 cents per litre, and illuminating paraffin will reduce by approximately 78 cents per litre.

The AA attributes the potential decreases to lower international product prices and a slightly stronger Rand against the US Dollar. The organisation notes that stable fuel prices are crucial in reducing inflation and the cost of goods and services. If the fuel price decrease trajectory continued, this would benefit the economy.

In an interview with Radio Islam International, AA’s spokesperson, Layton Beard, highlighted the potential positive impact on all sectors of the economy that heavily rely on fuel.

“The fact that we are going to have the fourth consecutive decrease in a row may have an impact on pricing and we may see a very gradual decrease in pricing over the next couple of weeks after that,” Beard explains, hinting at the potential for further price decreases.

Listen to the full interview on The Daily Round Up with Moulana Junaid Kharsany and AA’s spokesperson, Layton Beard.