Over-recover: fuel price set to drop for four month in a row

2010-08-25 00:00

THE price of petrol will in all likelihood drop slightly next Wednesday for the fourth month in a row as a result of an over-recovery on petrol.

The petrol price is expected to decrease by about seven cents a litre due to the strong rand versus the U.S. dollar.

An over-recovery on a fuel product means that fuel consumers are paying too much for a fuel product on that day.

The price of 95 unleaded petrol (coastal) is now less than R8 per litre compared with about R8,48 a litre in May 2010.

However, the wholesale price of diesel could increase by between two and four cents a litre.

The final fuel price is expected to be announced later this week.

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