As the end of the month draws near, we brace ourselves for an announcement about the fuel price. According to the Automobile Association of South Africa (AA), consumers could be in for some relief with regards to the fuel price in November.
The AA explained: “Our mid-month concerns over stronger oil prices have been allayed by an ongoing retreat. The situation has been further strengthened by a modest flattening of the Rand / US dollar exchange rate, although there are again signs of an uptick which has the potential to affect fuel pricing towards year-end.”
According to the AA, there is likely to be a slight drop in the diesel price of between eight and nine cents per litre, while the petrol price is showing signs of a possible decrease of between 18 and 22 cents per litre.
“Fuel prices have returned to levels last seen in March of this year. However, volatility in both oil prices and the exchange rate continues to be evident, and we advise motorists not to take future price reductions for granted,” highlighted the AA.
Fuel price adjustments for November 2015 will be released by the Department of Energy on Friday 30 October.