FUEL UP AND DOWN AS FUNDAMENTALS TREAD WATER – AA

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Spieshecker

October’s mixed fuel price picture has continued into November, with petrol showing an increase and other fuels dropping. This is according to the Automobile Association (AA), which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund.The Association says the underlying fundamentals have been treading water in the first half of November.

This has given rise to a predicted increase of 11 cents a litre for 95 octane petrol, and a seven-cent rise for 93 octane petrol. Diesel is looking at a decrease, with current data showing an 18-cent decrease while illuminating paraffin is set to drop by 21 cents.
The average Rand/US dollar exchange rate has been essentially flat, contributing a small decrease of about 3.5 cents to fuel prices as it maintains a level around R14.90 to the dollar. The picture for oil is similar, with the international prices of both petrol and diesel having run neck-and-neck for several days last week the Association notes.
The AA says the economy has taken a breather with Moody's choosing to give South Africa the benefit of the doubt with a change of outlook, rather than a downgrade.
“Petrol price increases at this time of year will come as bad news for many people who will be travelling on holiday in December. However, the predicted drop in the diesel price means input costs in for instance the manufacturing and agricultural sectors remains relatively untouched in relation to fuel costs, which is good news,” the AA concludes.

About The Automobile Association of South Africa
The Automobile Association (AA) has been the trusted champion of the South African motorist and traveller for over 85 years. Along with our AA Accredited Sales Agents located countrywide, the AA offers access to over 50 benefits on 1 card as well as other travel and mobility services that extend far beyond 24-hour roadside assistance – from technical and legal advice, to emergency rescue services, roadside security and a mobile app suite. The AA offers specialised apprenticeships to help motor industry players build in-house skill, and short skill courses for individuals. The Automobile Association of South Africa is a member of the Federation Internationale de l’Automobile (FIA) and the Alliance Internationale de Tourisme (AIT).

For more information please visit www.aa.co.za or aasa.mobi, or contact:
Automobile Association of South Africa (AA)
AA Public Affairs
011 799 1126 or 083 386 6954
press@aasa.co.za

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