Fuel price drop on the cards – AA
Current data suggests a petrol price drop of about 17c/litre, with diesel and illuminating paraffin both down by about 22c/litre.
Fuel prices may take a slight dip next month, reports the Automobile Association (AA).
The organisation made this prediction based on unaudited mid-month data released by the Central Energy Fund.
Current data suggests a petrol price drop of about 17c/litre, with diesel and illuminating paraffin both down by about 22c/litre.
In January motorists experienced some relief when prices dropped by R1.23 a litre for 95 octane petrol and R1.27/litre for 93 octane petrol.
This was due to the weakening of the rand/dollar exchange rate, offset by a drop in international oil prices. In February the retail prices of both grades of petrol dropped by 93c/litre, while in March petrol went up by 96c/litre, while diesel rose by 74c and paraffin by 73c.
The increase came after a drop in fuel prices as the global oil price fell. The AA pointed out that the average rand/dollar exchange rate has stabilised over the past month, reducing volatility in the fuel price.
At the same time, international petroleum prices have retreated to a more moderate level, with reasonable stability evident over the past month.
