July fuel price relief likely

File: With a decrease of 95 cents a litre in July, producer inflation is likely to moderate further.

File: With a decrease of 95 cents a litre in July, producer inflation is likely to moderate further.

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JOHANNESBURG - Some financial relief is in sight for battered motorists, with the Automobile Association (AA) predicting a drop in the fuel price in July. 

The price of petrol is expected drop by 91 cents a litre, while diesel is expected to cost 70 cents a litre less. 

"The story of the month is definitely oil," the AA said in a statement on Friday. 

"Crude laboured above $70 a barrel for large portions of April and May, as the tug-of-war continued between the OPEC countries, which favour ongoing output restrictions, and the USA, where production is steaming ahead."

Source
eNCA