Rand could ham­per pos­si­ble fuel price drop in Jan­uary

The Sunday Independent - - METRO -

AL­THOUGH cur­rency fluc­tu­a­tions make it tricky to pre­dict Jan­uary’s fuel price, in­di­ca­tions are that con­sumers could look for­ward to a price cut of about R1 a litre.

The good news, ac­cord­ing the AA, is that the fuel price has yet to fully catch up with the in­ter­na­tional oil prices, which have plunged in the past month.

How­ever, the rand to dol­lar ex­change rate could still spoil the party.

Based on mid-month unau­dited data from the Cen­tral En­ergy Fund, the AA says a petrol price drop of up to R1.14 is pos­si­ble in Jan­uary, while diesel could go down by as much as R1.44.

How­ever, the as­so­ci­a­tion cau­tions that the rand has de­pre­ci­ated some­what since the be­gin­ning of this month and this could off­set oil price gains “quite markedly” if it con­tin­ues. |

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.