Good news for motorists?
The petrol price could decrease at the end of this month, according to the AA.
The Automobile Association (AA) is expecting the petrol price to increase in March, by between three and four cents a litre, subsequent to the 29 cent per litre hike earlier this month.
The fuel increase was erratically adjusted after the rand strengthened against the American dollar on 15 February, reaching R13,02 against the dollar at 11.25am.
“This month, fuel prices increased by 12 per cent per litre worldwide, at the same time as the rand gained its strength,” said the AA.
The AA was reporting about the unverified fuel price statistics provided by the Central Energy Fund this week.
A statement by the AA said that if the price of fuel increases at this point, and the rand weakened, the state of affairs could be much worse than expected.
“If the rand remains steady as it was on Monday, 20 February, trading at R13,13 cents to the dollar, then by the end of this month a petrol price decline is almost guaranteed,”the statement concluded.
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