Fuel price decrease on the cards

The AA's Layton Beard told Jacaranda FM News that the lower price of Brent crude oil is the main reason for the possible decrease in the fuel price.

"This is good news for consumers. We expect the petrol price to decrease with 45 cents a litre with diesel that will be around 38 cents a litre cheaper," Beard said.

He did however warn that the rand has weakened sharply against the dollar in the wake of the US election results and if the local currency does not return to its previous levels, the fuel price picture could be quite different at month-end.

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"International oil prices started to decline at the beginning of November but the rand has weakened slightly against the dollar so this picture could change," Beard said.

Here are this morning's financial indicators:

Dollar: R14.15.

Euro: R15.22.

Pound: R17.63.

Gold: $1231.71 per fine ounce.

Platinum: $942.82 per fine ounce.

Oil: $46.67 per Barrel of Brent Crude.