Petrol and diesel price drops expected
While petrol and diesel look set to decrease, illuminating paraffin will undoubtedly increase as this basic fuel price increased while the others were dropping
Fuel prices are set for more reductions this month owing to a slightly firmer rand and softer international petroleum prices.
This is according to the Automobile Association, commenting on unaudited month-end fuel price data released by the Central Energy Fund.
ALSO READ: Clean Air Association loses crucial data
Current data indicates that petrol will drop by as much as 27 cents a litre, with diesel decreasing by about 11 cents.
‘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 lighting and heating fuel is on the cards,” the association said.
‘The rand maintained its strength against the US dollar throughout October, with the firming trend accelerating in the past week.
‘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 noted.
‘The exchange rate and oil pricing data have shown more stability over the past two months, suggesting that fuel prices have reached an equilibrium.
‘We hope 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.’
HAVE YOUR SAY Like our Facebook page and follow us on Twitter.
For news straight to your phone invite us:
WhatsApp – 060 784 2695
Instagram – zululand_observer
