Covid-19 Outbreak SA Online Resource | More info
Insurance, Car Insurance, Funeral Cover, Life Insurance, Budget Insurance, Insurance Quotes, CompareGuru, South Africa.
Car and Household
Business
Life and Funeral
Car Insurance
Cover your vehicle
More Information
Get Quote
Pre-Owned Warranty
Cover the mechanical and electrical components of your vehicle
More Information
Get Quote
Extended Warranty
Cover the mechanical and electrical components of your vehicle
More Information
Get Quote
Scratch and Dent
Cover small dents, chips and scratches to your vehicle
More Information
Get Quote
Tyre and Rim
Cover damages to your wheels
More Information
Get Quote
Home Insurance
Cover your home and everything in it
More Information
Get Quote
Commercial Vehicle Insurance
Protect vehicles and drivers used in the day-to-day operation of your business against risks like financial loss, damage or personal injury.
More Information
Get Quote
Commercial Insurance
Provide cover against common risks and disruptions to business operations, such as theft, damage to property, employee / client injury and much more.
More Information
Get Quote
Directors and Officers Liability
Safeguard your business and key players from financial loss with the right policy.
More Information
Get Quote
Errors and Omissions Liability
Covers your business and employees against claims of negligence, poor workmanship, and more.
More Information
Get Quote
Life Insurance
Provide for your loved ones
More Information
Get Quote
Disability Insurance
Protect your paycheck
More Information
Get Quote
Serious Illness Insurance
Cover yourself for illnesses like cancer, Alzheimers, Parkinsons, strokes or heart attacks.
More Information
Get Quote
Funeral Cover
Protect your family financially and cover funeral expenses
More Information
Get Quote
Domestic Worker Insurance
Cover the person that looks after you and your family everyday
More Information
Get Quote
Menu
Home
About Us
Domestic Worker Cover Quote
Life Insurance Quote
Car Insurance Quote
Funeral Insurance Quote
Extended Warranty Quote
Pre-Owned Warranty Quote
Scratch and Dent Quote
Tyre And Rim Quote
News Room
Meet The Team
Careers
Providers
Insurance
Car Insurance
Building Insurance
Household Contents Insurance
Life Insurance
Disability Insurance
Serious Illness Insurance
Domestic Worker Insurance
All Risk Insurance
Funeral Insurance
MotorVAPS Cover
Commercial Insurance
Commercial Vehicle Insurance
Directors and Officers Liability Insurance
Errors and Omissions Liability Insurance
Support
Contact Us
Terms of Service
Privacy Policy
Disclosures
Client Letter
POPI Act
PIA Act
CIM Policy
Complaint Escalation
TCF Form

News Room

Here Is The Predicted Fuel Price For April!

Jason Snyman
2020-03-24
The year 2020, so far, certainly seems to be something straight out of a horror novel. With the world in turmoil, South Africans will be looking for silver linings where we can get them, and, mercifully, we may just find some hope at the pumps come April. Here's the predicted fuel price.

It’s been a rough month, but, mercifully, there’s a silver lining to be found on some fronts. South African motorists have enjoyed a good run of price deductions at the pumps lately, and this trend looks set to continue into the month of April. 

According to the Automobile Association (AA), commenting on unaudited mid-month fuel price data released from the Central Energy Fund, the rand’s weak showing against the US dollar of late has been undone by the huge retreat in international petroleum prices, and a massive price deduction is all but certain.  

“As the spread of the Covid-19 virus accelerates across the globe, world financial markets have plunged, with capital fleeing to safe-haven assets. The rand has been sharply weaker against the dollar on this trend,” said the AA.

However, this has happened side-by-side with Saudi Arabia’s decision to break ranks with OPEC. Not only has Saudi Arabia slashed its crude prices, it has also increased production substantially.

As the Covid-19 virus continues to run rampant across the world, wreaking devastation upon trade and manufacturing, the global demand for oil has seen a dramatic decline and has, essentially, led to the drop in price. Reportedly, such an abrupt drop in the price of oil hasn’t occurred since the first Gulf War, some three decades ago.

“There is little indication of what the final picture of Covid-19 spread will be, nor where the rand will stabilise against the dollar. It can also not be predicted how long the Saudis are prepared to hold out in their oil price war, since their oil industry is believed to be able to maintain profitability at substantially lower per-barrel prices than the current level.”

The AA added that it will take quite some time for the global economy to get back on an even keel after the current ongoing events, but, at least the next two or three months seem set to provide some fuel price relief to hard-pressed motorists.

Let’s take a look at the predictions for the month of April.

Don’t Forget About The Fuel Levies

Though the current data looks promising, showing that the price of petrol could drop by up to R1.11 per litre, and the price of diesel and paraffin by up to R1.18 per litre, we have to remember that the increase to the fuel levies will finally come into effect this April, as well.

Thankfully, with the 25c increase to the levies taken into account, South Africans could still enjoy a very welcome price decrease of around 86c / 85c per litre of petrol / diesel, respectively. 

The levies are not applied to illuminating paraffin.

Here’s how the fuel prices are shaping up for the month of April:

And in other news, trade federation, Cosatu, has also renewed the call for the introduction of a petrol price cap. This idea had been floated way back in October of 2018, but gained little to no traction in government at all.

Last year, a spokesperson for the Department of Energy stated that the fuel cap was still on the cards, and that the draft report was being discussed internally. The government, however, is yet to release any research report on the matter.

So, we’ll have to wait and see what comes of it. 

Until then, stay safe out there, folks, and enjoy the affordable fuel while it lasts. 

CompareGuru knows what's good. You'll never need another insurance comparison tool again!

Sign up to our newsletter to stay up-to-date on our latest tips on how to get the best out of your insurance, what insurance really means, and how to avoid any pit falls along the way.

CompareGuru has you covered.    

CompareGuru Social TwitterCompareGuru Social FacebookCompareGuru Social LinkedIn

Sign up to our Newsletter now, and don’t miss a beat.

Email Address
Name
Sign Up