POLOKWANE – According to a press release by the Automobile Association (AA), current data predicts a drop of 24 cents a litre for petrol, 20 cents for diesel, and 21 cents for illuminating paraffin.
Ongoing volatility in international oil prices has been matched by swings in the Rand / US dollar exchange rate, making fuel price predictions as tricky as ever. This is according to the Automobile Association (AA) which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund (CEF).
“The Rand started the month relatively strong against the dollar, but has weakened slightly,” the AA said.
This is also due to international petroleum prices starting the month off soft, sagging further, and have made something of a comeback in the past few days.
The AA concluded by saying that these factors could work against the gains in the fuel price seen in the first fortnight of May.
