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Petrol price to drop next month

15.11.2016

Cash strapped motorists can expect a slight reprieve in the price of fuel next month, with decreases forecasted for both petrol and a diesel.

In a short statement, the Automobile Association (AA) said current projection suggests a 45 cents per litre decline in the price of petrol, 38 cents per litre for diesel and 40 cents per litre for illuminating paraffin for December.

"International oil prices remained stable throughout October, but have been in decline since November began. The Rand / US dollar exchange rate firmed over the same period, making a welcome contribution to the picture," the Association said.

It however warned that the recent weakening of the Rand after the US Presidential elections, could have the opposite effect if does not return to the levels it was at before. A short while ago, the national currency was trading at R14.15 against the US Dollar with Brent Crude Oil at $45.32 a barrel.

Article written by Autodealer
15.11.2016
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