Experts believe that a fuel price decrease is expected in both petrol and diesel on Wednesday due to the decrease in the price of Brent crude oil
South African motorists are set for welcome relief at the pumps on Wednesday, with economists forecasting sizeable cuts to both petrol and diesel prices as global oil prices retreat from recent highs despite the return of the full fuel levy this month.
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.
Economists say the combined effect of lower international oil prices and a stronger rand has more than offset the impact of government's decision to end temporary fuel levy relief introduced during the recent oil price shock.
Professor Simphiwe Madikizela, an economist at the University of South Africa (Unisa), said a fuel price decrease this week was virtually certain.
