Relief as petrol price set to drop
After a torrid 2017 that saw the petrol price reach a record high of R14,76 a litre, the strengthening Rand indicates a better 2018.
SOUTH AFRICAN motorists can breathe easily as the stronger Rand means the petrol price is set to drop by 32 cents a litre at month end, with diesel set to decrease by 17 cents while a 20 cents drop is expected for paraffin.
The stronger rand performance in January meant cheaper fuel prices in February.
Read also:Petrol price to increase by 71 cents
The Automobile Association of South Africa (AA) said in a statement that the stability in fuel prices for the year will depend largely on political and economic factors which affected the country’s attractiveness as an investment destination.
“International fuel prices have risen by around 11 per cent in a streak starting on 14 December 2017,” the AA said, commenting on unaudited month-end fuel price data released by the Central Energy Fund.
Read also:Fuel price shock: Another increase for December
“Fortunately for South Africans, the Rand/US dollar exchange rate has enjoyed a strengthening trend for almost as long, with the rand getting stronger since the middle of January,” the AA said.
Looking back at the fuel price history in 2017 which saw petrol reach an all-time record high of R14.76 a litre, the association said the year saw some of the highest fuel prices in the country’s history.
Do you want to receive news alerts for the Durban North and uMhlanga areas via WhatsApp? Send us a WhatsApp message (not an sms) with your name and surname (only) to 060 532 5532.
For more news follow us on Facebook or Twitter. You can also follows us Instagram.
