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Price of fuel expected to drop in November according to the AA

Here’s a slice of good news – the price of fuel in South Africa is expected to drop next month.

The reason for the drop in fuel pricing is tied – in part – to the strong position of the Rand.

“The Rand has pulled back from its high point at the start of October. This ongoing decline in the average exchange rate has meant that most of its losses have been clawed back, and it will have only a modest impact on the fuel price,” says the Automobile Association (AA) of South Africa.

Another reason the fuel price will likely see a drop is a decline in the international oil price.

As such unaudited month-end fuel price data from the Central Energy Fund suggests the following discounts are expected for November:

  • Petrol – Between eight and 18 cents
  • Diesel – 14 cents
  • Illuminating paraffin – 21 cents

While a drop in the fuel price ahead of the festive season is good news, the AA warns that should anything happen to negatively impact the market from here on out, the price of fuel in December may rise.

“Whatever happens to the oil price and Rand from this point affects the price motorists will be paying at the pumps at Christmas. It remains to be seen whether this month’s reductions will continue for the rest of the year,” the AA concluded.

[Source – Automobile Association of South Africa] [Image – CC 0 Pixabay]

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