Petrol price could drop by 44 cents

File photo: Leon Nicholas

File photo: Leon Nicholas

Published Oct 29, 2014

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The stars are aligning for a decent fuel price reduction at the beginning of November.

According to the AA, the Central Energy Fund's preliminary fuel price data is showing substantial over-recoveries in the fuel price.

This is likely to translate into a petrol price drop of between 40 and 44 cents and diesel drivers have even more to look forward to with a projected reduction of 56 cents per litre.

This is all due to the way that currencies and oil prices played out during the month of October. Basically, the rand strengthened, while international oil prices declined substantially.

The final price reduction is expected to be announced on Friday, October 31.

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