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Expect a big petrol price drop!

By Faeza
16 February 2016

petrol_pump

A welcome drop in petrol is expected at the end of the month, says the AA ...

Ongoing oil price weakness has been bolstered by a strengthening in the Rand / US dollar exchange rate. This according to the Automobile Association (AA) which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund (CEF).

"The Rand has recouped some of its losses against the dollar and traded in a fairly narrow band since the end of January," the AA commented. "This is allowing South Africans to benefit from lower international petroleum prices and provides some cushioning against any upward movement."

Petrol users are in for much-needed relief; the current indicators show a decrease of between 56 and 59 cents a litre, with around 11 cents attributable to gains in the Rand.

all4women has more details.