JOHANNESBURG, South Africa – Fuel price cuts could be on the way for South Africa by end-September 2020, according to the Automobile Association and going on unaudited mid-month fuel price data released by the Central Energy Fund.
The AA commented: “The rand has made a remarkable rally against the US dollar with the exchange rate strengthening from R17.30 on August 21 to R16.70 on August 31.
”Since September 1 the rand has traded in a commendably tight range.”
DIESEL, PARAFFIN DOWN TOO?
And as the currency strengthened against the dollar international oil prices were falling with the landed price of refined fuels ”slipping by more than 10% so far in September.”
The AA suggested petrol could be cheaper by as much as R0.36c and diesel falling by R0.88 and illuminating paraffin by R0.83c.
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