South Africans may experience substantial fuel price cuts from midnight next Tuesday. The changes are linked to a memorandum of understanding between the US and Iran. Petrol prices could fall by more than R3 a litre.
Data from the Central Energy Fund shows that petrol prices could decline by over R3.00 a litre. Diesel prices may drop by more than R4.00 a litre.
The reductions follow the re-opening of the Strait of Hormuz and the suspension of the US blockade under the US-Iran agreement. The fuel levy, which had been reduced during the conflict that began at the end of February, is set to return in July.
The return of the levy may offset some of the expected price declines.
