ALBERTON — Motorists will be relieved that another fuel decrease might be on the cards at the end of the month.
The Automobile Association (AA) of South Africa said the sharp climb in the Rand versus the US Dollar exchange rate has been offset by ongoing declines in international petroleum prices. “The Rand has weakened considerably against the US Dollar since the last week of July,” the AA said.
“Fortunately for South African fuel users, international oil prices have continued to slip, meaning there is still a reasonable prospect for a drop in the fuel price at the end of the month.”
Petrol is showing a drop of between 55 and 64 cents per litre, between 53 and 57 cents for diesel, and illuminating paraffin is expected to decrease with 60 cents.
“Without the impact of the exchange rate’s recent poor showing, the predicted drops would have been between 75 and 83 cents a litre,” the Association commented.
“We are confident that fuel prices will drop at the end of August, but if oil prices flatten out, motorists will be at the whim of the Rand in the coming months.”
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