Possible drop in fuel prices at month’s end
It remains to be seen whether or not month-end petrol price will reflect recent gains
MOTORISTS could be in line for a significant and welcome drop in the price of petrol and diesel at the end of the month.
This was announced today (Friday) by the Automobile Association (AA), commenting on unaudited mid-month fuel price data released by the Central Energy Fund.
‘Petrol is currently showing a drop of between 14 and 25c/litre, diesel around 55c and illuminating paraffin 66c,’ said the AA.
The association said oil’s pullback since the beginning of the month has been quite marked.
‘In the case of illuminating paraffin, the landed price of the fuel dropped by more than 90c in two weeks.
‘Similar positive effects have also been noted on the other main liquid fuels.’
While the rand has weakened somewhat against the US dollar, slipping from just over R14.30 to R14.85, this did not detract from the reduction in the landed prices of fuel.
The AA said the trends from now to month-end would determine whether fuel prices could cling on to these gains.
‘If the rand continues to slip, we might see some reversal of the trend.’
