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Petrol price likely to go up, diesel price down

NEWSWATCH: According to the Automobile Association (AA), the price of petrol is likely to go up and that of diesel down in February, after commenting on unaudited month-end fuel price data released by the Central Energy Fund.

"International oil prices have reached a slightly higher plateau after climbing in the first half of January," the AA says.

The current picture shows petrol increasing by around 8c/l, while diesel is set to drop by 3c/l and illuminating paraffin by 9c/l. The difference in the price changes relates mainly to the differences in the international product prices of diesel and petrol. This would push the price of a litre of 95 Unleaded petrol to R13.50 at the coast and R14.09 in Gauteng, with 93 Unleaded rising to R13.87 in the latter region.
"What is worth noting is that the average rand strength against the US dollar has been increasing for nearly a month, and we are hopeful this may point to a period of greater stability for the currency," says the AA.

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