Fuel prices to drop slightly tomorrow

After oil price retreats in October, the Automobile Association (AA) said that fuel prices were set to drop slightly in November, with the drop coming tomorrow.

Fuel prices are decreasing, with 95 and 93 octane petrol dropping by 13 cents per litre and a litre of diesel decreasing by about 14 to 16 cents.

Paraffin goes down by 23 cents.

The AA explains that the decline in the average exchange rate means that most of the Rand’s losses have been recovered, and that it would only have a “modest impact on the fuel price”.

They also noted that oil improved slightly from its late-October plateau, which could indicate the beginning of a “strengthening trend” into November.

The AA concluded by saying that the oil price and the Rand will determine how much motorists will pay for fuel during the festive season, but it is not guaranteed that November’s price drop will follow into December.

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