Benay Sager, chairperson of the National Debt Counsellors’ Association (NDCA), said they were expecting the fuel price to be about 20% lower than what it was six or seven months ago, compared to the highs of early March.
“I think if you factor in the interest rate cuts that happened two weeks ago, it will help the consumer significantly,” Sager said.
“For example, if consumers were spending R1 000 on fuel, they are now probably going to end up spending more like R900. And compared to March, if they were spending R1 000 back in March, they’re now going to be spending around R750 for the equivalent (amount of fuel). That’s very significant in terms of putting back into the pockets of consumers.”
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