Good news for petrol and diesel prices in South Africa

The weekly fuel price forecast from the Central Energy Fund shows that petrol and diesel are on the path to another price cut next month.

According to Bloomberg analysts, however, the trend may be shifting. China has reopened its borders, and its central bank has pointed to the country getting “back on track” from its zero-Covid approach. For now, oil prices are supporting a cut in local fuel prices, contributing between 68 to 142 cents per litre to the projected cut.

Meanwhile, surprisingly positive US jobs data also boosted the dollar – weakening the rand in return.

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