Petrol price up, diesel down predicts AA
This is due to the international oil prices having reached a slightly higher plateau after climbing in the first half of January, the AA says
The price of petrol is expected to increase while the price of diesel is set to drop in February says the Automobile Association (AA), which was commenting on unaudited month-end fuel price data released by the Central Energy Fund.
This is due to the international oil prices having reached a slightly higher plateau after climbing in the first half of January. “Over the same period, the Rand has firmed gradually against the US dollar, beginning the month at nearly R14.50 to the dollar and currently hovering at around R14.00, offsetting the oil price rise to some degree.”
The current picture shows petrol increasing by around eight cents a litre, while diesel is set to drop by three cents and illuminating paraffin by nine cents.
The difference in the price changes relates mainly to the differences in the international product prices of diesel and petrol, the AA says.
“What is worth noting is that the average Rand strength against the US dollar has been increasing for nearly a month, and we are hopeful this may point to a period of greater stability for the currency.”
“If international oil prices continue their current stable trend, South African fuel users may see fewer of the wild swings in fuel prices which characterised 2018,” the AA concludes.
