Drivers can breathe just a bit easier, as the Automobile Association has announced that the price of oil has declined in recent weeks.
“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,” the AA said.
According to the association, the international price of fuel has also declined slightly as the month of October comes to an end. “As a result, we are anticipating November drops of between eight and 18 cents for petrol, 14 cents for diesel, and 21 cents for illuminating paraffin,” the AA said.
“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 said.
These are the expected prices of fuel for the month of November:
- 95 Petrol – R16.13
- 93 Petrol – R15.61
- 0.05% Diesel (wholesale) – R14.70
- 0.005% Diesel (wholesale) – R14.75
- Illuminating Paraffin – R9.43