Drop in petrol prices for July

Motorists can expect a decrease in petrol for July, that is according to the Automobile Association (AA).

Petrol is expected to drop by 86 cents a litre, diesel by 68 cents, and illuminating paraffin by 58 cents.

The decrease is due to lower international oil prices in June.

The Central Energy Fund, however, said the price drop could have been greater had it not been for the rand.

“June was the weakest month for oil in the last quarter, with crude briefly slipping below $60 to the barrel at mid-month. However, renewed tensions in the Middle East and a downturn in USA oil inventories have put pressure on the commodity, which has ticked up over the past few days,” the AA said.