We're happy to report some good news in these tough times. There will be a massive price reduction in the petrol and diesel price in April 2020.
According to the Automobile Association (AA), "unleaded 95 petrol is set for a stunning R2.18 per-litre drop, with 93 set to decrease by R2.05. Both grades of diesel are expected to fall by around R1.65, with illuminating paraffin down R1.98." In reality, the petrol price reduction will be slightly less as the 16 cent fuel levy and 9 cent Road Accident Fund levy will be coming into play.
Still, the reduction is needed as economic conditions are expected to be challenging over the next few months due to COVID-19. The main reason behind this drop is the crude oil price war between Saudi Arabia and Russia, as well as the reduced demand for oil as most countries are in some form of lockdown. Despite the Rands fall against the US Dollar which usually stops price reductions, the massive decrease is still on the cards for the first week in April 2020.
"It is unfortunate that these massive reductions are coming at a time where private motoring is severely curtailed, but we would remind motorists that in terms of the lockdown regulations, they are still allowed to fill up their vehicles," said the AA.