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“International prices for refined fuel products spiked just before mid-month, but then fell back. Gasoline recovered its losses to end in positive territory, while diesel moved further into negative territory,” AA said.
The association said the rand had an impressive performance 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 said that the daily R / $ 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 over the last 10 days, so we 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.” AA said.
TimesLIVE
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