The Automobile Association says South African motorists are set to enjoy “further reductions” in the fuel price at the end of January 2019.
“Although the international price of crude oil has ticked up since its low of 1 January, the overall price is still lower than December’s average, and this reflects in the current data,” the AA said, commenting on unaudited mid-month fuel price data released by the Central Energy Fund.
“In addition, the rand/US dollar exchange rate has strengthened from an average of R14,44 at the beginning of the year to around R14,20 now,” the Association added.
The AA went on to reveal the data indicated a drop of around 12 cents a litre for petrol, 36 cents for diesel and 33 cents for illuminating paraffin.
“We expect this figure may fluctuate in the second half of January,” the AA noted.
“The rand continues to firm slightly and it’s not clear what level oil will stabilise around. Whether this will work in favour of fuel users or against them remains to be seen,” the AA said.