NATIONAL NEWS - According to the Automobile Association (AA), the festive season will ring in much lower fuel prices bringing some early festive cheer to road users.
In a press release, the AA states that after months of sustained pressure on the fuel price, fuel users will receive a substantial breather at the end of November going into December if the current fuel price trends continue.
The association says the main driver of lower prices has been an accelerating decline in international oil prices, which have trended downwards since the beginning of this month. The picture has been helped along by a modest improvement in the Rand / US dollar exchange rate.
The current data predicts a massive drop of R1.54 per litre for petrol, with diesel dropping by 92 cents and illuminating paraffin by 85 cents.
However, the AA cautions that the Department of Energy recently re-introduced the use of the Slate Levy to manage price changes, and it cannot be rule out that this may impact the final figure. The AA says fuel users should also bear in mind that recent oil production cuts by Saudi Arabia could result in oil supply restrictions as we move into 2019, pushing prices higher.
While the current fuel price picture is the rosiest it has been for several months, caution should remain the watchword.
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