The rand’s poor performance could derail good news about fuel prices for May.
Based on the latest, unaudited figures from the Central Energy Fund, petrol could become cheaper by up to 14 cents per litre – and diesel by around 35 cents per litre. The cost of illuminating paraffin also shows a possible drop of around 27 cents per litre.
However, experts warn: if the rand continues to perform poorly, this expected relief at the pump could quickly disappear. The global oil price has at least fallen – Brent crude is down to $63.46 per barrel, mainly due to tensions between the US and China – but that is of little help if the rand is not cooperating.
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