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The fuel price changes for December will be mixed for South Africans, depending on whether your car runs on gasoline 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 prices for refined fuel products soared just before mid-month, but then fell back. Gasoline recovered its losses to end up in positive territory, while diesel leaned even more into negative territory, “AA said.
The price of gasoline is expected to fall by around 27 cents a liter, while the increase in the price of diesel has been contained at around 13 cents a liter, AA noted.
Those who rely on paraffin for lighting for cooking and lighting will be hit the hardest, with a 22-cent increase for this fuel.
Below is a summary of the fuel price increases in South Africa for December 2020:
- Gasoline – Decrease of 0.27 rand per liter
- Diesel – R0.13 per liter of increase
- Illuminating paraffin – 0.22 rand per liter of increase
Impressive Rand Performance
The Association added that the Rand has performed impressive against the US dollar during November, with the average exchange rate falling in the range of R15.70 in the last week of the month.
In addition to noting the firmness of the average exchange rate, the AA says that the daily Rand / USD exchange rate, which fell as low as R15.15 per 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 been trending up for the last ten days, so I hope 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 appears poised to improve fuel price stability as we enter 2021,” he concluded.
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