• Petrol and diesel prices set for slight decrease the December.
• The price of illuminating paraffin likely to increase by 22 cents/litre.
• The Rand performed admirably against the Dollar to bring about the slight relief.
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Fuel price changes for December will depend on what fuel you use. This is according to the Automobile Association (AA), which was commenting on unaudited month-end fuel price data released by the Central Energy Fund. Petrol is slated to fall by around 27 cents a litre, while diesel's price increase has been contained to around 13c/litre. The biggest loser is illuminating paraffin, which is set for a 22c/litre rise, bad news for those who use this fuel for cooking and lighting.
The AA says: "International product prices of refined fuels spiked just before mid-month, but then pulled back. Petrol clawed back its losses to end in positive territory, while diesel swung further into negative territory."
The Association adds that the Rand has put in an impressive performance against the US dollar during November, with the average exchange rate dipping into the R15.70 range in the last week of the month.
Apart from noting the firming average exchange rate, the AA says the daily Rand/USD exchange rate, which fell as low as R15.15 to the dollar in the last week of November, is at its strongest level since February this year.
It concludes: "The fly in the ointment is that the international price of refined fuels has trended upward over the last ten days, so here's hoping it doesn't spoil the party. It has been a long time since a stronger Rand was able to come to the rescue of South African fuel users, and if the current trend continues, the country seems set for improved fuel price stability as we enter 2021."