Fuel prices could come down

2010-05-27 00:00

FUEL prices in South Africa could come down by as much as 20 cents per litre next week if the rand/dollar exchange rate stabilises over the rest of the week and there are no drastic fluctuations in international fuel prices.

The latest figures show an average over-recovery of more than 20c per litre of petrol.

This means that on June 2, the first Wednesday of June, petrol prices could be reduced by at least 20c per litre.

For diesel, there is an over-recovery of more than 10c per litre.

An over-recovery means that the public is currently paying more than the basic price formula, which takes into account the global oil price and the rand exchange rate.

The favourable trend is largely due to a reduction in global oil prices over the past month.

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