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Petrol reprieve on the cards for December

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Cape Town - Motorists are in for a breather at the pumps with the petrol price set to drop by about 41 cents a litre and that of diesel by 38c/l, the Automobile Association (AA) said on Tuesday.

This is according to unaudited month-end fuel price data released by the Central Energy Fund.

"The rand slumped sharply against the US dollar in the wake of Donald Trump's election as the next US president, but has regained some of its losses since then," the AA said.

"Over the same period, international petroleum prices enjoyed a brief rally before heading lower. As a result, the likely decline in the fuel price will be similar to what was indicated in mid-November."

The AA added that South Africans should not be too optimistic about further fuel price drops.

"Future movements of the rand and international petroleum prices have become very complex to anticipate, and since these factors are the chief drivers of the price we pay at the pumps, South Africans should be cautious about hoping for further fuel price drops," the AA said.

It noted that host of highly fluid factors is at play, including local political developments, rating agencies' view of the economy, and the impact of possible changes in US policy after president-elect Donald Trump takes office.

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