‘Massive’ fuel price drop on the cards for December – AA

The Automobile Association announced on Thursday that, based on current data, South African motorists can expect ‘massive drops’ in the prices of petrol and diesel for December.

The association is predicting a drop of R1.54 per litre for petrol, with diesel dropping by 92 cents and illuminating paraffin by 85 cents.

“After months of sustained pressure on the fuel price, fuel users will receive a substantial breather at the end of November going into December if the current fuel price trends continue,” said the AA in a statement.

“The main driver of lower prices has been an accelerating decline in international oil prices, which have trended downwards since the beginning of this month,” the Association says.

“The picture has been helped along by a modest improvement in the rand/US dollar exchange rate.”

The association said the prognosis could however change before month’s end.

“While the current fuel price picture is the rosiest it has been for several months, caution should remain the watchword,” it said. — Fin24

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