Petrol Prices Will Likely Drop

Petrol Prices Will Likely Drop

According to the Automobile Association commenting on unaudited fuel price data (mid-month),  released by the Central Energy Fund, fuel prices are likely to drop early next month. The only increase expected is the price of illuminating paraffin, which looks likely to increase by about 5 cents.

“So far in October, we have seen both the Rand/US dollar exchange rate and international oil prices working in South Africa’s favour. After a large spike in the daily exchange rate in the second half of September, the Rand has returned to its previous leisurely strengthening trajectory, improving from around R16.70 to the dollar at the start of October to its current level of about R16.55,” the AA says. Petrol could drop between 14 and 17 cents a litre with diesel set to decrease by approximately 20 cents a litre.


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