‘Fuel price relief expected in February’ – AA

2018-01-24 06:00
: ; South Africans are looking forward to another drop in the fuel price next month, following the numerous increases that occurred last year.

: ; South Africans are looking forward to another drop in the fuel price next month, following the numerous increases that occurred last year.

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SOUTH African motorists can look forward to a bit more relief on the first Wednesday in February, with fuel prices set to drop again.

This is according to the Automobile Association (AA) which was commenting on mid-month fuel price data released by the Central Energy Fund.

The association attributed the continued positive balance shown by the fund to the unusual but welcome stability of the rand against the US dollar since the last week of December.

“The Rand/US dollar exchange rate has had one of its flattest periods of trading in recent times,” the AA said.

“It has traded in a very narrow band between R12.30 and R12.40 to the US currency since the last week of December, bringing some welcome stability.”

The association also noted that the international prices of petrol and diesel were also stable over the same period, although there was a slight climb in both in the second week of January.

“The current data predicts a decrease in petrol of nearly 41 cents a litre, with diesel down by 23 cents and illuminating paraffin dropping 26 cents,” the AA said. The price drop for fuel next month will come after a decrease this month, following five consecutive months of increases at the end of last year.

“Continued stability in fuel prices for 2018 will largely depend on political and economic factors which affect South Africa’s attractiveness as an investment destination,” the Association concluded.

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