South Africans may experience substantial fuel price cuts from midnight Tuesday this coming week on the back of the memorandum of understanding between the US and Iran, which includes the re-opening of the Strait of Hormuz and the suspension of the US blockade.
Data from the Central Energy Fund indicates that petrol prices could decline by over R3.00 a litre and diesel prices by over R4.00 a litre.
However, the return of the fuel levy in July may offset some of these price declines.
The fuel levy was reduced to try and cushion the impact of massively escalating fuel prices after the start of the war between the US and Iran at the end of February.
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