Fuel price drops - No April Fool's Day joke
This is not an April Fool's Day joke. The Department of Energy has published the latest fuel price adjustments for April 2020. The irony is that South Africa is facing a 21-day national lockdown due to the Covid-19 pandemic.
Source: pixabay.com
It’s understood that this is the “the biggest ever” drop South Africa has seen. According to the Automobile Association (AA), which was commenting on unaudited month-end fuel price data released by the Central Energy Fund. The fuel price will be adjusted on Wednesday, 1 April 2020.
"The crude oil price war between Saudi Arabia and Russia continues unabated, with demand for oil further suppressed as world economies retreat due to the coronavirus pandemic," the AA says.
"Not even the precipitous fall of the Rand against the US dollar has been able to arrest the fuel price reductions, which are historic."
There are the changes per litre:
- Petrol 95: a decrease of R1.88 (inland) and R1.94 (coastal)
- Petrol 93: a decrease of R1.76 (inland) and R1.82 (coastal)
- Diesel 0.05%: a decrease of R R1.34 (inland) and R1.40 (coastal)
- Diesel 0.005%: a decrease of R1.35 (inland) and R1.41 (coastal)
- Illuminating paraffin: a decrease of R1.84 (inland) and R1.98 (coastal)
The AA also notes that the fuel price drops would provide much relief to road haulage operators, and offset some of the economic damage resulting from the lockdown.
"We hope that, at this difficult time, companies that benefit will pass these savings back to consumers," the AA says.
In addition to the regular fuel price outlook, the AA is also announcing that it will provide emergency battery assistance for healthcare workers at no charge during the lockdown period.