The Automobile Association says South African motorists can expect petrol and diesel prices to fall in the first week of November 2020.
The good news comes courtesy of “a slightly firmer rand and softer international petroleum prices”, the AA explained, commenting on unaudited month-end fuel price data released by the Central Energy Fund.
The current data shows the price of petrol will drop by about 27 cents a litre, with diesel set to fall by around 11 cents a litre.
"The only fly in the ointment is illuminating paraffin, whose basic fuel price increased while petrol and diesel were falling, meaning a 15 cents-a-litre rise for the popular lighting and heating fuel is on the cards," the AA pointed out.
The Association added the rand had maintained its strength against the dollar throughout October, with the “firming trend accelerating in the past week”.
"This gradual appreciation has been mirrored by international oil prices, which softened throughout the month, with steeper reductions seen over the past ten days," the AA noted.
The AA said exchange rate and oil-pricing data had shown “more stability” over the past two months, suggesting fuel prices had “reached an equilibrium”.
"We are hoping that this is the case, because fuel price stability would come as a welcome relief to individuals and corporates alike in the current economic conditions," the Association said.