Expected petrol price drop welcomed by economist

JOHANNESBURG - Despite the recent sluggishness of the rand, there may be some relief at the pumps.

Both grades of petrol are expected to drop by a R1 per litre.

READ: Fuel price | Significant petrol hike on the cards

Diesel users can look forward to a hefty reduction of around R1.30 per litre.

Bonke Dumisa says the good news is welcomed in these trying times.

Dumisa said, "the increases especially for patrol were somehow significant but what we must really rejoice about June is that starting from the very beginning of the month they have been significantly lower then US dollar, this means we will be saving a lot when buying our crude oil despite the slight weakening of the rand recently."

"Look at the value of the rand from the beginning of the month till about last week Tuesday: it was really at the same level as what we experienced in April so definitely if everything goes along these lines for the rest of the month... Today [Wednesday] marks the mid-point of the monitoring system of the fuel price adjustment system so we are indeed looking at good news for a change.”