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09.07.23 10:30

Economy

South Africa predicts lower petrol prices

Retail fuel prices adjusted to last month's average international prices⁠

The price of petrol in South Africa could fall from Wednesday when fuel prices are officially adjusted, the national Automobile Association (AA) predicts.

According to the organisation, which relies on the latest unaudited data from the Central Energy Fund, a litre of petrol will cost 17-25 rand less (about $0.01 to $0.013).

AA reminds us that these prices are officially calculated and adjusted on the first Wednesday of each month by the Department of Mineral Resources and Energy, the only body that regulates and sets fuel prices in South Africa.

On the other hand, the AA estimates that diesel prices could rise by about 20 cents per litre (about USD 0.011).

The drop in petrol prices is good news for local drivers, the association said.

Retail fuel prices are adjusted to reflect last month's average international prices as well as the rand-dollar exchange rate, as reported by Prensa Latina, a partner of TV BRICS.

Photo: istockphoto.com

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Russian Foreign Minister

"A Joint Statement of the Foreign Ministers has been adopted. It provides a clear and principled assessment of the situation on the international stage and outlines the tasks that will be addressed in accordance with previous decisions by heads of state and governments. No one doubts that additional documents on sectoral areas of cooperation will be developed ahead of the SCO summit in Bishkek. Energy, artificial intelligence, healthcare and a number of other areas were also mentioned"

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