October petrol price decline set to get cheerier

The Automobile Association (AA) has revised its fuel price outlook for October with diesel and illuminating paraffin still set for the biggest declines.

Commenting on the final unaudited data report released by the Central Energy Fund on Tuesday (29 September), the AA said it expects the price of petrol to drop by 24 cents for 93 unleaded, 33 cents for 95 unleaded, diesel by 95 cents and paraffin by 78 cents come next week Wednesday (7 October).

Despite the Rand declining from R16.10 to R17.20 compared to the US Dollar, retreating international oil prices halted any uptakes at the pumps with the AA nonetheless stating that caution should still be practised.

“Almost in lockstep with the Rand, diesel and petrol prices spiked, and then pulled back before starting a further climb. If this trend of a weakening Rand and rising international fuel prices continues, it could be extremely negative for South African fuel users, and we will watch further changes with interest,” the association said.

“It is too early to tell whether the spikes in both were a blip or the start of a more sustained reversal, but motorists should continue to be wary given the ongoing instability in both local and global economies”.

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