Ricochet News

Slight drop in petrol price expected for December

Slight drop in petrol price expected for December

The Automobile Association (AA) has predicated a small decrease in the petrol price for December as the Rand continues to weaken against the US Dollar.

In a statement, the organisation said motorist can expect the price of unleaded to drop between three and eight cents per litre, with diesel going down by between two and four cents. It however stated that the Rand’s continuing downturn had caused the loss of almost 60 cents per litre in decreases over the last two months.

“If the Rand had held steady at its early-November levels, we would be expecting fuel prices to drop by 25 to 30 cents a litre thanks to a weaker oil price," the statement read.

“However, the month-end pictures mirrors that seen at mid-month and the decline in the Rand / US dollar exchange rate has closely matched oil's gains”.

A short while ago, the rand was trading at R14.23 against the US dollar with Brent Crude Oil coming in at $45.69 a barrel.