Motorists could benefit from a “significant” petrol price decrease ahead of the festive season‚ according to the Automobile Association (AA).
“After months of sustained pressure on the fuel price‚ fuel users will receive a substantial breather at the end November going into December if the current fuel price trends continue‚” the AA said.
Data suggests the price of petrol could drop by R1.54 a litre‚ the price of diesel by 92c, and illuminating paraffin by 85c.
“The main driver of lower prices has been an accelerating decline in international oil prices since the beginning of this month‚ helped by a modest improvement in the rand-dollar exchange rate.”
While this may be good news for many‚ the association said the energy department has recently re-introduced the use of the slate levy to manage price changes‚ which could affect the final figure.
“Fuel users should also bear in mind that proposed oil production cuts by Saudi Arabia could result in supply restrictions as we move into 2019‚ pushing prices higher‚” said the AA.
The fuel price prediction followed the release of unaudited, mid-month data by the Central Energy Fund.
Said the AA, “While the current fuel-price picture is the rosiest it has been for several months‚ caution should remain the watchword.”
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