Petrol price decreases for October 2020
From the unaudited month-end fuel price data, the Automobile Association (AA) says there will be a welcomed decrease in petrol price for October 2020. This is all despite the current negative change in the Rand and US Dollar exchange rate toward the end of this month, September.
“Not even a steep bounce in both the Rand/US dollar exchange rate and international oil prices could take the shine off the good news, which is that all grades of fuel will be cheaper in October.” – AA
The drop in price for petrol, diesel and paraffin, October 2020.
Based on the current data, petrol is set to drop by 24 cents for 93 unleaded and 33 cents for 95 unleaded. Diesel looks to take a decrease of 93 cents while illuminating paraffin will go down by 78 cents.
“The Rand’s daily average dipped as low as R16.10 to the US dollar on September 18, following a long downward trend which began in the first week of August. However, a steep jump to around R16.90 followed by a brief plateau and a further spike to nearly R17.20 caught watchers unawares, and there is rightly some concern about the Rand’s short- to medium-term trajectory.” – AA
With the weakened Rand and an increase in international fuel prices, this could lead to an increase toward November. For now, we will take good news for October 2020.
Source: AA
Image by andreas160578 from Pixabay
