Large reductions in fuel prices are being forecast for December according to the Automobile Association (AA), which was commenting on unaudited mid-month fuel price data released by the Central Energy Fund.
The AA says that after months of sustained pressure on the fuel price, fuel users will receive a substantial breather at the end of November going into December if the current fuel price trends continue.
The Association says the main driver of lower prices has been an accelerating decline in international oil prices, with Brent crude oil currently trading in the mid 60's dollar a barrel range.
The picture has been helped along by a modest improvement in the Rand / US dollar exchange rate.
The current data predicts a massive drop of R1.54 per litre for petrol, with diesel dropping by 92 cents and illuminating paraffin by 85 cents
The AA warns, however, that while the current fuel price picture is the rosiest it has been for several months, caution should remain the watchword.
