As South African consumers sukkel amid steep interest rate hikes and massive increases in food prices, motorists can from Wednesday breathe a little easier as the price of fuel is set to come down.
Mense living in Mzansi have been under enormous pressure after the Reserve Bank hiked the interest rate by 50 basis points last month.
The latest fuel costs update comes as much-needed relief after the petrol price recently spiked to over R23 a litre inland.
A litre of petrol at the coast will from Wednesday cost around R21.90.
On Monday, the Department of Mineral Resources and Energy announced that petrol will decrease by 71 cents per litre while diesel will decrease by 80 cents and 84 cents depending on the sulphur content.
In a statement, the department said the reason for the drop in fuel prices could be attributed to cheaper crude oil prices during the period under review.
The Automobile Association said lower petrol prices would ease pressure on financially strained consumers.
“Many people are struggling to make ends meet and any relief, even if it is slight, will assist consumers,” it stated.
But the relief might not last long as economists have warned that due to the weaker rand, a fuel price increase might be on the cards next month.