Coronavirus fears lead to lower fuel prices in March – AA

Coronavirus fears lead to lower fuel prices in March – AA

Photo: Courtney Africa/African News Agency(ANA)

Diesel is set to decline by more than half a rand with petrol slightly cheaper too.

The AA said on Friday that motorists could expect fuel price reductions in March, in part due to falling world oil prices due to fears about the coronavirus.

“The impact of the novel coronavirus outbreak on global economic activity cannot be overstated, and petroleum prices have retreated in lockstep with the downturn across world markets,” the AA said in a statement.

“Under normal circumstances, we would be focusing on our serious concerns over the rand’s trajectory, with the local currency having depreciated by nearly 30 cents against the US dollar since the start of February. However, these declines have all been overrun by the pullback in oil.”

The association forecast month-end fuel price declines of between nine and 19 cents per litre for petrol, 55 cents a litre for diesel, and 68 cents for illuminating paraffin.

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