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AA predicts further fuel price decreases in February

Jan 16, 2019
AA predicts further fuel price decreases in February

There is more good news for local motorists; the Automobile Association (AA) of South Africa says it expects further fuel price decreases in February.

"Further reductions in the fuel price may be on the horizon at the end of January according to the unaudited mid-month fuel price data released by the Central Energy Fund," the AA said.

"Although the international price of crude oil has ticked up since its low of 1 January, the overall price is still lower than December's average, and this reflects in the current data.

"In addition, the Rand/US dollar exchange rate has strengthened from an average of R14.44 at the beginning of the year to around R14.20 now."

Here is the predicted fuel price decreases in February

The association said that the current data showed a drop of around 12 cents a litre for petrol, 36 cents for diesel, and 33 cents for illuminating paraffin.

"We expect this figure may fluctuate in the second half of January," it added.

"The Rand continues to firm slightly and it's not clear what level oil will stabilise around. Whether this will work in favour of fuel users or against them remains to be seen."

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