Rand strength and a retreat of international oil prices have combined to produce a surprise drop in fuel prices at the end of February. This is according to the Automobile Association (AA)‚ which was commenting on unaudited month-end fuel price data released by the Central Energy Fund (CEF). "After a bit of a stutter at the beginning of February‚ the rand has continued to firm against the US dollar throughout the month‚" the AA said. "At the same time‚ international oil prices have come off their mid-month highs and are now testing their lowest levels yet for 2017." "Petrol is expected to drop by around 7c/l‚ diesel by about 2c/l and illuminating paraffin by 8c/l‚" the AA said. "If the rand’s strengthening trend is prolonged and oil prices remain around their current levels‚ it’s possible that some of the recent fuel price increases may be reversed in the medium term." However‚ the AA warned that the 39c increase in fuel taxes would apply from April 1. This is a combination of a 30c...
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