Motoring, South Africa

Are fuel prices set to drop in February?

Can motorists expect a decrease or an increase in petrol prices in the month of February?

Based on an unaudited mid-month data released by the Central Energy Fund, the Automobile Association (AA) says we can expect a further drop in petrol prices next month.

While the international price of crude oil has risen slightly since the start of 2019, it is still lower than the December average. Furthermore, the Rand/US Dollar Exchange has strengthened, which should translate into price reductions in fuel at the end of the month.

According to current data, the petrol price is predicted to fall by roughly 12 cents per litre. Diesel can see a drop by approximately 36 cents per litre.

Some reports claim the drop in fuel prices is even higher than initially expected. The decrease in the fuel prices are expected during next month:

Petrol – R1-00

Diesel -R 1.30

Illuminating Paraffin – R1.22

The AA says the sagging international petroleum prices are spurred on by the USA, which is trending towards becoming a nett exporter of oil.

However, as the price of fuel is volatile, if the situation is to suddenly change and the price does indeed increase, motorists will see nothing more than a 15 cents increase.

What are your thoughts on the fuel prices? How will the decrease help you? Share your thoughts with us in the comments section below.

SHARE THIS ARTICLE

Commenting Guidelines

At Newcastillian News, we value the voice of our community and encourage open dialogue. However, it is crucial to maintain a respectful and constructive environment. We remind everyone that using fake or anonymous identities does not shield you from being identified and held accountable for your comments.

To foster a positive community atmosphere, we strictly prohibit any form of racism, sexism, homophobia, or any other discriminatory remarks. Similarly, malicious personal attacks and the use of offensive language are not tolerated and will be promptly removed.

It is also important to note that remarks targeting individuals or companies must be factual and free from unfounded accusations. Comments that involve defamation, false information, or reveal confidential details can lead to legal consequences for the commenter. We reserve the right to remove such comments without prior notice to ensure our community standards are upheld.

Please note that while we encourage diverse opinions and lively debates, Newcastillian News does not intervene in comment disputes. Moderating such interactions is unfeasible and often leads to further complications.

It’s important to remember that the commenter could face legal consequences if a comment infringes on someone else’s rights. Let’s all strive to contribute positively and remember that in this small community, respect and decency are paramount.

Read our TERMS, CONDITIONS AND USER RULES for further information.