Signs are pointing towards a petrol price decline at the end of February 2020. Here's what we're potentially looking at. Fingers crossed!
According to the Automobile Association (AA) who often comment on unaudited mid-month fuel data, "Petrol is currently showing a drop of between 14 and 25 cents a litre, diesel around 55 cents, and illuminating paraffin 66 cents."
This is due to the decline in international oil prices which are proving stronger than the weakening Rand, which has moved from R14.30 to R14.85 against the US dollar.
"In the case of illuminating paraffin, the landed price of the fuel dropped by over 90 cents in two weeks. Similar positive effects have been noted on the other main liquid fuels."
Let's hope the trend of the declining oil price continues and pray the Rand is able to show some resilience. We'll update you as soon as we hear more.