Picture: Moneyweb
Following the slight drop in fuel prices, the Automobile Association (AA) has stated that they believe further reductions could be in store for South Africans at the end of the month.
The AA said, in response to unaudited mid-month fuel price data released by the Central Energy Fund: “Although the international price of crude oil has ticked up since its low of January 1, the overall price is still lower than December’s average and this reflects in the current data.”
According to the AA, the current data showed a drop of around 12 cents a litre for petrol, 36c for diesel, and 33c for illuminating paraffin. As such, they expect further fluctuations in these figures for the second half of January.
“The rand continues to firm slightly and it’s not clear what level oil will stabilise around. Whether this will work in favour of fuel users or against them remains to be seen,” cautioned the AA.
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