Fuel price set to drop again this November
Fuel prices are set for further reductions in November due to a slightly firmer rand and softer international petroleum prices.
This is according to the Automobile Association, which was commenting on unaudited month-end fuel price data released by the Central Energy Fund.
The Automobile Association (AA) has indicated that consumers can expect another drop in the price of fuel. As much as 27 cents per litre on fuel and 11 cents on the price of diesel is predicted.
“The only fly in the ointment is illuminating paraffin, whose basic fuel price increased while petrol and diesel were falling, meaning a 15 cents-a-litre rise for the popular lighting and heating fuel is on the cards,” the association comments
The association says the rand has hold its own against the dollar and hopefully this trend will continue.
“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 AA notes.
“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,” it concluded.
