Industry revenue of “retail sale of automotive fuel“ in South Africa 2011-2023
Petrol prices set for a massive slump
The outbreak of the Covid-19 virus has had a devastating impact on the oil market, as prices have plunged to a decade low. As the nation-wide lockdown ends in April, industry experts believe that petrol prices could reduce by as much as 4 ZAR a litre. This might help drive vehicle sales in the medium term, which have currently witnessed a 35 percent year-over-year decline as of March 2020.