Petrol and diesel prices to drop in November

The Automobile Association (AA) has released its final petrol fuel prediction for November by announcing a larger than previously reported reduction come on Wednesday (3 November).

Commenting on the concluding report tabled by the Central Energy Fund on Friday (30 October), the AA said it expects the price of petrol to drop by 27 cents a litre instead of the previously estimated 14 to 17 cents. Diesel will drop by 11 cents as opposed to the estimated 20 cents. The price of illuminating paraffin will however go up by 15 cents and not by five cents as initially stated.

“This gradual appreciation has been mirrored by international oil prices, which softened throughout the month, with steeper reductions seen over the past ten days,” the association said, adding that prices have remained stable over the last two months, a trend it says shows that a balance has reached in the wake of the Covid-19 chaos.

“We are hoping that this is the case, because fuel price stability would come as a welcome relief to individuals and corporates alike in the current economic conditions.

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