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The Motor Industry Staff Association says it is relieved that there will be a drop in the fuel price next month but warns consumers that they will not feel the relief on their grocery bills soon.
MISA's Chief Executive Officer for Operations, Martlé Keyter says the predictions are that it will take at least three months for consumers to feel the relief in their pockets, as the Rand continues to stand strong against the U.S. dollar.
According to the latest statistics from the Central Energy Fund, it is expected that the price of petrol will decrease by between R2.45 and R2.60 a litre in September.
Keyter says consumers will continue to suffer following the sharp global increase of container freight charges that went up by 800% from pre-Covid-19 to date.
According to Dr. Roelof Botha, Economist for the Optimum Financial Services Group, the impact of the Covid-19 pandemic was so severe on teams working at ports globally, that it caused mass delays of vessels. The longer a vessel is delayed, the more expensive the goods it carries becomes.
Botha says 80% of all tradeable goods are transported via sea.
Both Keyter and Botha feel Government should continue to grant relief to motorists on the general fuel price levy pending a comprehensive review of the fuel pricing methodology.
The government called for public comment on plans to put a fuel price cap on 93-octane petrol last month.
