Motoring News

Another drop in SA fuel prices expected in November

JOHANNESBURG, South Africa – The Automobile Association, commenting on unaudited month-end fuel-price data released by the Central Energy Fund, says a further reduction can be expected in November 2020.

Prices also fell in October.

Current data, the AA says, suggests petrol will be 27c/litre less, diesel will fall by about 11c/litre

The AA media release said: “The only fly in the ointment is illuminating paraffin, whose basic price rose while petrol and diesel fell, meaning a 15c/litre increase for the popular lighting and heating fuel is possible.”

SOFTER OIL PRICES

The reason? The South African rand held its strength against the US dollar throughout October, with the firming trend accelerating in the past week.

“This gradual appreciation,” the AA said, ”follows a softening of international oil prices, with steeper reductions through the past 10 days.”

The AA added that exchange rate and oil pricing data had shown more stability through September and August.

“We hope this is the case because fuel-price stability will be a welcome relief to individuals and corporates under current economic conditions.”

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