Fuel set to decrease for January

Fuel prices are set for month-end decreases. This according to the Automobile Association (AA) which was commenting on mid-month fuel price data released by the Central Energy Fund.

“The rand/US dollar exchange rate has had one of its flattest periods of trading in recent times,” the association said.

“It has traded in a very narrow band between R12.30 and R12.40 to the US currency since the last week of December, bringing some welcome stability.”

The association also noted that the international prices of petrol and diesel were also stable over the same period, although there was a slight climb in both in the second week of January.

“The current data predicts a decrease in petrol of nearly 41c a litre, with diesel down by 23c and illuminating paraffin dropping 26c.

“Continued stability in fuel prices for 2018 will largely depend on political and economic factors which affect South Africa’s attractiveness as an investment destination.”