Slight or no change to fuel price
The Automobile Association (AA) believes there will be a slight or no change to the fuel price for November.
Stronger international oil prices have kept up the pressure on South Africa’s local fuel prices.
“In a reverse of last month’s trend, the rand/US dollar exchange rate has strengthened slightly, contributing about a 4c per litre drop in fuel prices across the board,” says the AA.
“However, international oil prices jumped in the first weeks of October, offsetting the gains made by the rand and as a result, the current data shows petrol up by 3c to 5c a litre, with diesel climbing by 19c.”
The AA adds that international oil prices had started to retreat in recent days and that it was cautiously optimistic about the picture at month-end.
“If the exchange rate continues with its slight downward trend and oil follows, fuel prices for November could be virtually unchanged or slightly cheaper,” the AA concludes.
