Petrol could cost a lot less next month

The Automobile Association (AA) is cautiously optimistic that the petrol price will drop by about 24c per litre from next month — a prediction that would be a welcome development for consumers.

“Ongoing volatility in international oil prices has been matched by swings in the Rand/US dollar exchange rate‚ making fuel price predictions as tricky as ever‚” the AA said in a statement on Tuesday morning.

It said that while the rand started the month strongly against the dollar — which bodes well for petrol prices — it had since weakened. It was a similar case with the international cost of petroleum‚ which started the month relatively cheap but “made something of a comeback in the past few days“.

Despite this volatility‚ the consumer was “still winning“‚ the association said.

“The current data [predicts] a drop of 24 cents a litre for petrol‚ 20 cents for diesel‚ and 21 cents for illuminating paraffin. We wouldn’t rely on these figures though‚ since a lot could change by month end‚” the AA commented.

– TMG Digital/TimesLIVE

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