Guiding consumers since 2009

Will the fuel price drop again?

By Staff Writer
Despite the weakening Rand, consumers may experience some relief next month as the fuel price is expected to drop for a second consecutive month.
 
According to the Automobile Association (AA), unaudited mid-month fuel price data from the Central Energy Fund indicate that “sharp climbs in the Rand/US dollar exchange rate have been offset by ongoing declines in international petroleum prices.”
 
The AA predicts that as a result of this, the petrol price could drop between 55 and 64 cents per litre, while diesel could drop between 53 and 57 cents per litre and illuminating paraffin by 60 cents per litre at the end of August.
 
The AA explained: “The Rand has weakened considerably against the US dollar since the last week of July. Fortunately for South African fuel users, international oil prices have continued to slip, meaning there is still a reasonable prospect of a drop in the fuel price at the end of the month.”
 
It added that if the exchange rate had not been so poor recently, the decrease could have been bigger, possibly between 75 and 83 cents per litre.
 
But while the AA is confident that fuel prices will drop at the end of August due to the apparent downward trend of international petroleum prices, it warned that if the oil price stabilises, future fuel increases or decreases would be dependent on the performance on the Rand.

Recent Articles

Featured Get personal with your finances – and tie the knot

As time passes, your financial products may not live up to your needs. Therefore, it’s important to take stock of what you’re paying for and adjust where necessary. We got in touch with financial advisers to find out how you can get your finances in order, and what you should do to ensure you’re financially stable.

Personal loan or business loan? The best way to finance your business

When starting your own business, you may have to rely on external funding. Perhaps you qualify for a personal loan, but would it be better to take out a business loan instead? We got in touch with a specialist to find out whether it’s best to take out a business loan or a personal loan to assist you with your ongoing business or start-up.

What to do when you’ve been denied a home loan

After months of scanning property sites and attending showhouse after showhouse, you’ve finally found what you’ve been looking for. But your dream of owning a home comes crumbling down when you receive the news that you’ve been denied a home loan. So, what now?

Best travel cards offered by top South African banks

Planning a trip abroad involves a lot of administration. You need to consider travelling arrangements, reasonable accommodation, and a daily itinerary. But have you considered how you’re going to pay your bills once you arrive? Besides considering bank costs, you also need to consider exchange rates.

Deals

Takealot January Big Sale

Price: Available on request
When: Until 31 January 2020
Where: Online

Annique Restore Package Special

Price: From R600
When: Until 31 January 2020
Where: Centurion

Ster-Kinekor Senior Citizens Discount

Price: Available on request
When: Daily
Where: Nationwide