SA can look forward to cheaper fuel prices in Feb

According to the Automobile Association (AA) of South Africa on 29 January, international fuel prices shot up by as much as 36 cents a litre in January but were outshone by one of the strongest Rand performances in many months. 

As a result, South Africans can look forward to cheaper fuel prices in February. This is according to an unaudited month-end fuel price data released by the Central Energy Fund.International prices have risen by around 11 percent in a streak starting on 14 December 2017.

Fortunately for South Africans, the Rand / US dollar exchange rate has enjoyed a strengthening trend for almost as long, with the local currency accelerating its gains since the middle of January. The stronger Rand means petrol is set to drop by 32 cents a litre at month end, with diesel down by 17 cents, and illuminating paraffin by 20 cents.

Extracts of AA press release: 29 January 2018