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Mixed picture from mid-month fuel data

19 September 2013:

The AA’s view on the possible petrol price change in October
 
According to the Automobile Association of South Africa (AA) the mid-month fuel price data is showing a mixed picture, with a marginal over-recovery on petrol while diesel and illuminating paraffin are in the red.
 
“Data from the 30th of August to the 16th of September is showing an over-recovery of 5.6 to 6.5 cents per litre on petrol,” the AA said. But diesel and illuminating paraffin are showing losses of, around 17 cents per litre on diesel and 16 cents per litre on paraffin.
 
Analysis of the under-recoveries shows that the exchange rate has contributed a small increase of about 1.5 cents per litre across all fuels, which has been offset by the decline in petrol prices of between seven and eight cents per litre. However, international prices of diesel and paraffin rose by between 15 and 16 cents per litre, compounding the slight exchange rate pressure.
 
The AA cautioned that the trend predictions were based on unaudited data and that a firm statement on adjustments to the fuel price for October would only be announced at the end of the month. However, the association said that there was considerable volatility on the fuel prices, noting that unaudited data for the 12th of September had shown an under-recovery on all fuel types. “If the current slight positive trend continues, the fuel price increase at the end of the month may not be as dramatic as predicted by some commentators last month,” the AA concluded.
 
Automobile Association of South Africa (AA)
011 799 1180
press@aasa.co.za
 
 
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