Fuel price drop ‘tremendously positive’, ramp-up needed in EV programmes – RFA
Reports of significant fuel price decreases in September are a “welcome breath of good news”, says the Road Freight Association (RFA).
Current data estimates decreases of R2.35/l for ULP95, R2.18/l for ULP93, 77c/l for 50 ppm diesel, and 87c/l for 500 ppm diesel.
Illuminating paraffin is set to drop by an estimated 87c/l.
RFA CEO Gavin Kelly says any decrease in fuel costs will have a “tremendous positive effect” on South African transport and supply-chain costs.
“South Africans will now pay less for fuel than they did in June.”
“This will go a long way in placing downward pressure on inflation.
“There would, obviously, be a greater positive/downward effect on freight logistics if the price of diesel was to drop as dramatically as petrol has, as the majority of road freight logistics vehicles are diesel vehicles.”
Kelly says the effects of the decline should be felt in the coming quarter.
“[It] will certainly make life slightly easier for consumers towards the end of the year.”
Kelley notes it must be remembered that fuel price fluctuations are driven by the cost of oil on the international market and the rand/dollar exchange rate.
“Concerns remain around the effect global instability has on these two factors and the long-term effect high fuel prices will have on the South African economy.”
Kelly adds that the RFA calls on the government to speed up programmes to make South Africa less reliant on fuel imports, while also ramping up the introduction of suitable electric vehicle (EV) programmes.
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