The Automobile Association says that “slight decreases” in the fuel price are being predicted on mixed news from the currency markets and international oil trade.
“The rand gained ground against the US dollar since the beginning of December, notwithstanding political turbulence in the run-up to the ANC’s electoral conference,” the AA said, commenting on unaudited mid-month fuel price data released by the Central Energy Fund.
“However, some of the gains were offset by a spike in international petroleum prices in the first two weeks of December,” it added.
The current data shows petrol set for a month-end decrease of around ten cents a litre, with diesel and illuminating paraffin each lower by around six cents.
“The political landscape after the ANC electoral conference, as well as international economic sentiment on the oil market, will probably be the key indicators for the fuel price at month end,” the AA added.
“At the moment, our expectation is that the status quo will be maintained, with only slight changes at the pumps for January,” it concluded.