“As a result‚ we expect the petrol price to drop by about 16 cents a litre‚” the AA said. “Unfortunately‚ diesel and illuminating paraffin will both increase by about 30 cents a litre.”
The association noted that international petroleum prices have shown modest declines in the past month‚ which it describes as “a cause for optimism”.
It also added that if the rand maintains its current trajectory of relative stability‚ this could augur well for fuel prices as the Christmas season approaches. However‚ the motoring body cautioned against premature celebration.
“2018 has been one of the most tumultuous years in history for South African fuel users‚ and the economy is still fragile and easily spooked‚” said the AA.
South African consumers have experienced record high fuel prices due to a rising oil price and weak rand‚ with the price of 95 octane in Gauteng at R17.08 and 93 at R16.85 in October 2018.