Fuel prices may drop further at the end of the month according to the AA, based on unaudited mid-month data released by the Central Energy Fund.
Some good news for South African motorists is that fuel prices are likely to decline further come February 2019. The international price of crude oil has risen slightly since the beginning of the year but it’s still lower than the December’s average and the Rand/US Dollar exchange has strengthened in the first half of January which should translate into fuel price reductions at month end.
Based on current data, the price of petrol is predicted to fall by roughly 12 c/l while the price of diesel could see reductions of around 36 c/l.
We will have to wait until the end of the month to see what impact the exchange rate and international oil prices will have, but we are definitely holding thumbs for bigger decreases going forward into 2019.