Decrease in oil prices could be good news for motorists

VAAL TRIANGLE - For the first time in three months, the price of oil dropped to less than $40 a barrel. Brent crude traded $39,41 a barrel early this morning. The lower oil price is without a doubt good news for South Africans. According to figures released by the Central Energy Fund on Monday, the rate of 95-octane petrol was already 23c per liter cheaper. This would mean that if the price of petrol had to be determined, it would have fallen by 23c per litre. However, this figure is based on the oil price even before the price fell below $40 per barrel, which means that South Africans could possibly expect a decrease in fuel prices if the oil price continues to decline and the rand/dollar rate remains stable throughout the month of September.

PHOTO: (Supplied)

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