March fuel prices expected to decrease as coronavirus fears impact global oil price

VAAL TRIANGLE - The Automobile Association says motorists can expect "substantial fuel price reductions" next month, in part due to falling world oil prices as coronavirus fears impact global economic activity. The AA says the impact of the novel coronavirus outbreak on global economic activity cannot be overstated, and petroleum prices have retreated in lockstep with the downturn across world markets. It said under normal circumstances, they would be focusing on their serious concerns over the rand's trajectory, with the local currency has depreciated by nearly 30 cents against the US dollar since the start of February. However, these declines have all been overrun by the pullback in oil. The association has forecast month-end fuel price declines of between nine and 19 cents per litre for petrol, 55 cents a litre for diesel, and 68 cents for illuminating paraffin. PHOTO: (Supplied)

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