Rand at three-year high. Fuel prices to drop next week

Fuel prices will fall in March as South Africans benefit from a stronger rand.

The currency traded at near three-year highs on Monday, amid reports that President Cyril Ramaphosa will soon announce a cabinet reshuffle.

At 3:04pm the rand was trading at R11.59 to the US dollar.

The Automobile Association (AA) expects the petrol price to drop by up to 38 cents a litre next week.

It further anticipates the diesel price to fall by 47 cents per litre.

The AA expects consumers to pay 26 cents a litre less for illuminating paraffin.

The new fuel prices will come into effect on Wednesday, 7 March.


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