Guiding consumers since 2009

Could there be any petrol relief?

By Staff Writer
Motorists saw petrol prices skyrocket in the past few months, but the Automobile Association of South Africa (AA) has said that there might be a relief in the fuel price in the coming month of August.

However, further instability in the Rand/dollar exchange rate could offset possible a drop.

"The good news is that preliminary data from the Central Energy Fund (CEF) for the middle of July is showing firm reductions in international petroleum prices," the AA said.

The exchange rate

"The exchange rate picture is less positive, with the Rand having steadily depreciated against the US dollar since the end of last month,” said the AA.

After a period of stability towards the last week of June, the exchange rate has climbed from R12.20 to the dollar to R12.43 to the dollar this morning (20 July 2015).

The drop in international petroleum prices has kept ahead of the exchange rate though, meaning that petrol is currently in line for a reduction of 28 cents a litre, with diesel and illuminating paraffin set for a decline of around 50 to 55 cents a litre.

"The fuel price has shown increasing volatility in recent months, and we advise motorists to maintain a prudent stance towards their fuel expenditure," said the AA.

New fuel prices announcements are expected at the beginning of August. 

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