According to the Automobile Association of South Africa (AA) sharp climbs in the exchange rate between the Rand and the US Dollar have been offset by ongoing declines in international petroleum prices.
The AA explained that the Rand has weakened considerably against the Dollar since the last week of July and international oil prices have continued to slip, meaning there is still a reasonable prospect of a drop in the fuel price at the end of this month.
Petrol is already showing a drop of between 55 and 64 cents a litre, diesel between 53 and 67 cents and illuminating paraffin 60 cents.
The Association said that with the impact of the exchange rate’s recent poor showing, the predicted drops would have been in a range between 75 and 83 cents a litre.
While the AA has seen a slight leveling off in the downward trend of international pretroleum prices, they are confident that fuel prices will drop at the end of August.
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