Fuel price changes for December will be a mixed bag for South Africans, depending on whether your car runs on petrol or diesel.
This is according to the Automobile Association (AA), which was commenting on unaudited month-end fuel price data released by the Central Energy Fund.
“International product prices of refined fuels spiked just before mid-month, but then pulled back. Petrol clawed back its losses to end in positive territory, while diesel swung further into negative territory,” the AA stated.
The price of petrol is slated to fall by around 27 cents a litre, while diesel’s price increase has been contained to around 13 cents a litre, the AA noted.
Those who rely on illuminating paraffin for cooking and lighting will be hardest hit, with an increase of 22 cents for this fuel.
Below is a summary of the fuel price increases in South Africa for December 2020:
Petrol – R0.27 per litre decrease
Diesel – R0.13 per litre increase
Illuminating Paraffin – R0.22 per litre increase
Impressive Rand performance
The Association added that the Rand has put in an impressive performance against the US dollar during November, with the average exchange rate dipping into the R15.70 range in the last week of the month.
Apart from noting the firming average exchange rate, the AA says the daily Rand/USD exchange rate, which fell as low as R15.15 to the dollar in the last week of November, is at its strongest level since February this year.
“The fly in the ointment is that the international price of refined fuels has trended upward over the last ten days, so here’s hoping it doesn’t spoil the party.”
“It has been a long time since a stronger Rand was able to come to the rescue of South African fuel users, and if the current trend continues, the country seems set for improved fuel price stability as we enter 2021,” it concluded.
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Source: mybroadband