The Automobile Association (AA) says a record decrease in the price of fuel is expected in May due to the lockdown and other factors.
The AA says petrol is expected to decrease by R1.74 a litre with diesel expected to fall by R1.56 and illuminating paraffin a whopping R2.18.
The Association says with the massive drop in fuel usage during April, due to the nationwide lockdown, revenue from the General Fuel Levy (GFL) which comprises about 25% of every litre of fuel will also suffer.
It says the government will lose between R6 billion and R7 billion in revenue through not collecting the GFL.
In early April 2020, the price of all grades of petrol decreased, when global oil prices crashed due to the coronavirus pandemic, which sent markets into a tailspin and a price war between Russia and Saudi Arabia further assisted in the oil prices crumble.
via - SABC
SOUTH AFRICA - MASSIVE FUEL PRICE DROP MAY BE IMMINENT IN MAY
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Reviewed by MHM Marketing & Design
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19:15:00
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