AA: Too soon to say if another petrol price drop is on the cards next month

The new year kicked off with good news for motorists thanks to the fuel price drop on 2 January.

This is the second consecutive decrease since the cost of fuel reached a record high in October.

The Automobile Association (AA) says it’s too early to predict whether another decrease is on the cards.

The Association's Layton Beard says international petroleum prices, as well as the rand and US dollar exchange rate, will affect which way the local fuel price swings.

It's very difficult to say. The rand against the US dollar is one of the big measures for the fuel price and it's very volatile.

Layton Beard, Automobile Association spokesperson

95% of the decrease that we've just realised now is because of the drop in international petroleum prices.

Layton Beard, Automobile Association spokesperson

Beard also expects the 2019 Budget Speech to announce increases in the fuel levy and Road Accident Fund (RAF) levy, which may see a fuel price hike.

Listen to Beard explore all the contributing factors:


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by NEWSROOM AI
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