Photo by: Bloomberg
Fuel prices are set for month-end decreases, this is according to the Automobile Association (AA) commenting on mid-month fuel price data released by the Central Energy Fund.
The AA said: "The Rand/US dollar exchange rate has had one of its flattest periods of trading in recent times. It has traded in a very narrow band between R12.30 and R12.40 to the US currency since the last week of December, bringing some welcome stability."
The Association also notes that the international prices of petrol and diesel were also stable over the same period, although there was a slight climb in both in the second week of January.
The AA says: "The current data predicts a decrease in petrol of nearly 41 cents a litre, with diesel down by 23 cents and illuminating paraffin dropping 26 cents.
"Continued stability in fuel prices for 2018 will largely depend on political and economic factors which affect South Africa's attractiveness as an investment destination."