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PETROL PRICE WILL DROP IN DECEMBER!

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THE petrol price is set to fall by around 27 cents a litre, while diesel will increase by 13 cents a litre.

The biggest loser is illuminating paraffin, which is set for a 22 cents-a-litre rise.

The Automobile Association (AA) says 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,” said the AA.

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.

“The fly in the ointment is that the international price of refined fuels has trended upward over the last 10 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,” the AA said.

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