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Consumers can breathe easy as fuel price decreases

01.09.2014

IT’S been a difficult few months for consumers with escalating prices and the soaring cost of living. But consumers can rest easy, at least for this month, after it was announced that the price of fuel will decrease on the 3rd of September 2014.

All grades of petrol will see the greatest decrease with 67 cents a litre and diesel will drop by around 25 cents a litre for 500ppm, while 50ppm diesel will decrease by 24.38 cents a litre.

This is the third time this year that the fuel price has dropped after we saw alleviations at the pumps ahead of the general elections.

The primary reason why motorists get to enjoy the lower pricing is due to the decrease in the price of crude oil, while the rand has also stabilised slightly against the US dollar.

Interestingly, the fuel in SA is linked to the fuel price in the Arab Gulf and Singapore region and therefore any fluctuation in international crude oil pricing will influence our pricing locally. Furthermore, should the US dollar/rand exchange rate change; this will also directly affect our fuel pricing.

South Africa’s reliance on foreign oil leaves us vulnerable to changes, whether it is the volatile rand or oil refining centres overseas.

While the fuel price has come down, it won’t necessarily stay this way. So here are some quick savvy tips to save fuel:

  • Only drive when necessary
  • Maintain a constant speed to lower fuel usage
  • Make sure your vehicle is properly maintain as this will make your car more economical
  • Keep your tyres properly inflated to lower rolling resistance
  • When freewheeling, ensure your car is in the highest gear and not neutral. This will help you get more mileage out of a tank.

Article written by Autodealer
01.09.2014
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