Good news! All grades of fuel will see a drop in prices in October 2020.
This is according to the Automobile Association (AA), which was commenting on un-audited month-end fuel price data. This data was released by the Central Energy Fund.
Based on current data, petrol is set to drop by 24 cents for 93 unleaded and 33 cents for 95 unleaded. Diesel will be down by around 93 cents. Paraffin will drop by 78 cents.
According to the AA the Rand’s daily average dipped as low as R16.10 to the US dollar on 18 September, following a long downward trend which began in the first week of August. The Association notes that the Rand’s weakening profile was mirrored in strengthening international petroleum product prices.
“It is too early to tell whether the spikes in both were a blip or start of a more sustained reversal, but motorists should continue to be ware given the ongoing instability in both local and global economies” the AA concluded.