Petrol Up, Diesel Down – AA Yesterday

The petrol price is expected to rise but diesel should be more affordable in February, the Automobile Association (AA) has said.

Commenting on unaudited month-end fuel price data released by the Central Energy Fund, the AA said “international oil prices have reached a slightly higher plateau after climbing in the first half of January.” The rand’s stronger position to the dollar has also helped to stave off an across-the-board price increase for both diesel and petrol. The rand began the month at nearly R14.50 to the dollar and is currently hovering around R14.00, offsetting the oil price rise to some degree, according to an AA statement.

“The current price shows petrol increasing by around eight cents a litre, while diesel is set to drop by three cents and illuminating paraffin by nine cents. The difference in the price changes relates mainly to differences in the international product prices of diesel and petrol.”

Most importantly, particularly for consumers, is the news that the current stability in the oil market could translate into “fewer of the wild swings in fuel prices that characterised 2018”, the AA said.