Motorists pumped at possible fuel price drop
It will be a welcome start to the festive season.
FUEL price relief could be on the cards for cash-strapped South Africans ahead of the festive season.
This after international petroleum prices came off their late-October highs, says the Automobile Association (AA).
“International oil prices remained stable throughout October, but have been in decline since November began. In addition, the Rand/ US dollar exchange rate firmed over the same period, making a welcome contribution to the picture,” the association added.
Current data suggests a reduction of 45 cents a litre in the petrol price, with diesel down by 38 cents and illuminating paraffin enjoying a 40 cent reduction.
However, the AA warned that the Rand had weakened sharply against the dollar in the wake of the US election results, and said that if the local currency did not return to its previous levels, the fuel price picture could be quite different at month-end.
“While the expected reduction at the pumps ahead of the 2016 Christmas season is welcome, South Africans would be prudent not to expect sustained drops in the fuel price over the next few months,” the AA concluded
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