Further fuel price decreases expected in December
JOBURG - Motorists could be in store for another substantial drop in the fuel price next month.
The petrol price could decrease by more than 70 cents a litre and the price of diesel could fall by about 50 cents in December, the Automobile Association of South Africa predicted based on unaudited mid-month fuel price data from the Central Energy Fund.
“Based on the current data, petrol is set to drop by between 69 and 72 cents per litre, with diesel showing an expected reduction of around 49 cents per litre,” the association said.
This followed a 45 cents per litre and 60 cent per litre drop in the price petrol and diesel respectively on 5 November.
A decrease of about 43 cents per litre was expected for illuminating paraffin.
The adjustments were expected to take effect from 3 December.
“Continued declines in international fuel prices have offset a marginally weaker rand/US dollar exchange rate,” the association said.
“Petroleum prices have dropped by more than 10 percent over the past 15 days and the exchange rate has weakened only slightly in the same period.”
According to the association, oil-producing countries had indicated that a slump in oil demand could see the trend sustained over a longer period.
