This is no April Fool’s Joke.
The economy may be taking a nosedive during the Coronavirus lockdown, but so is the fuel price - by a record R2 a litre.
Minister of Mineral and Energy Resources Gwede Mantashe announced recently that all grades of fuel, including petrol, diesel, illuminating paraffin and liquified petroleum gas (LPG) will drop from April 1.
Now, petrol will cost R1.94 cents per litre less.
Diesel is coming down by R1.40 cents per litre.
The paraffin price will be reduced by R1.98 cents per litre.
The massive cuts come as the world is gripped by the global Coronavirus pandemic, which has sent markets into a tailspin, while a price war between Russia and Saudi Arabia saw oil prices plunge.
Brent crude prices have dipped below $25 per barrel.
If it stays at this level, South Africa’s struggling consumers and businesses can expect another massive fuel price drop in May.
However, the rand has also depreciated further to around R18 to the US dollar following Moody’s decision to lower South Africa’s credit rating to “junk” status last week.