The fuel price decrease came as a big relief to many South Africans as they are battling the effects of the outbreak of the coronavirus. While it might still be too early for many to feel the negative economic impact the pandemic will have on their finances, this relief will go a long way in easing the burden in the coming months.

The record fuel decrease in many years will see the price of petrol drop by close to R2/litre, which will see motorists save close to R120 to fill-up a 45-litre tank.

"The effects of the coronavirus are going to be with us for many months to come, so we urge consumers to channel their fuel budget savings to other essential items and make sure that they do not default on their credit repayments. If they face financial difficulty, they should contact their credit providers and make arrangements for repayments." Said Sandile Xolo Head of Marketing and Corporate Communications at Ithala SOC Limited.

“At Ithala, our mandate is to teach ordinary South Africans how to manage money and create wealth, we do this through our flagship financial literacy programme Ithala MoneyTalks.”

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Xolo.

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