Petrol price set to drop by 41 cents at end of January

Good news for consumers as the price of petrol is expected to decrease at the end of January by a whopping 41 cents.

The Automobile Association (AA), reporting on mid-month data released by the Central Energy Fund, said the steady performance of the rand was once again responsible for the predicted price drop. The drop in the petrol price is expected to happen, despite a slight increase in the international prices of petrol and diesel.

In the South African context, the price of diesel will likely drop by as much as 23 cents at the end of the month.

“The Rand/US dollar exchange rate has had one of its flattest periods of trading in recent times,” said the AA on Monday.

“It has traded in a very narrow band between R12.30 and R12.40 to the US currency since the last week of December, bringing some welcome stability,” added the AA.

“Continued stability in fuel prices for 2018 will largely depend on political and economic factors which affect South Africa’s attractiveness as an investment destination.”

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