Commenting on unaudited released by the Central Energy Fund on Monday afternoon (29 January), the Automobile Association (AA) said South Africans can look forward to cheaper fuel prices in February.
“Fortunately for South Africans, the Rand / US dollar exchange rate has enjoyed a strengthening trend for almost as long, with the local currency accelerating its gains since the middle of January. It is important for political leaders to note the strengthening effect the recent more hands-on governance approach has had on our exchange rate, reducing many input costs for both businesses and private citizens, “the AA said.
“The price of petrol is set to drop by 32 cents a litre, diesel by 17 cents and illuminated paraffin by 20 cents, despite oil prices improving by as much as 36 cents in January.”
The AA however warned that the proposed fuel price levy increase could have a further negative impact on cash strapped consumers, concluded the AA.
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