December 2020 fuel price may drop.
The Automobile Association (AA) has had mixed feelings about the unaudited mid-month fuel price in regards to December. While the Rand has seen some appreciation against the US Dollar, it has been “countered by a sharp spike in international oil prices.”
“It is quite unusual to have such a spread of price outlooks as is currently the case.” – AA
What can we expect from the December fuel price?
With the mixed feelings comes good news for motorists around South Africa. The price of petrol is set to drop by 36 cents per litre and diesel by 4 cents a litre. Illuminating paraffin on the other side of the coin could increase by almost 10 cents.
This mostly contrasts the international price of fuel as it sees an increase. Diesel went up by nearly 20 percent in the first half of November before pulling back slightly. Petrol has gone up by more than 15 percent.
“Fortunately, the Rand has fended off most of these increases, and has appreciated strongly against the US dollar, dipping below R15.50 to the dollar on November 10.”
The AA warns us to not take these decreases for granted.
“With the South African economy in its current fragile state, fuel users will be among the first to feel any economic shocks.”
Find out more about the previous predictions for fuel price.
Source: AA
Photo by Gabriel Côté on Unsplash
