Second petrol price drop for January
The Rand/US dollar exchange rate has had one of its flattest periods of trading in recent times.
Motorists can breathe a sigh of relief as fuel prices are set for another decrease at the end of this month.
This is according to the Automobile Association (AA) which was commenting on mid-month fuel price data released by the Central Energy Fund.
Earlier this month petrol went down by 34 cents a litre, diesel by 26 cents and illuminating paraffin by 28 cents.
Also read: Motorists to expect drop in fuel price
“The Rand/US dollar exchange rate has had one of its flattest periods of trading in recent times.
“It has traded in a very narrow band between R12.30 and R12.40 to the US currency since the last week of December, bringing some welcome stability.”
According to the AA, their current data predicts a decrease in petrol of nearly 41 cents a litre, with diesel down by 23 cents and illuminating paraffin dropping 26 cents.
Continued stability in fuel prices for 2018 will largely depend on political and economic factors which affect South Africa’s attractiveness as an investment destination.
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