Fuel Price Relief on Cards as Oil Prices Plummet

Fuel price relief is on its way for South African motorists as economists predict significant cuts to both petrol and diesel prices.

The expected reductions follow a sharp decline in Brent crude oil prices after a ceasefire agreement eased tensions in the Middle East, reversing the spike in oil markets that drove steep fuel price increases in April and May.

According to Professor Simphiwe Madikizela, an economist at the University of South Africa (Unisa), 'It's a given because the price of the crude oil price has come down significantly to the level before the middle east war and the peace deal has been signed although it's volatile.'

Brent crude is currently trading at around $75 (about R1 274) a barrel, compared with levels approaching $100 a barrel during the height of the conflict.