South Africa: Fuel Price Relief Likely in April as Rand Firms

The rand firmed further against the U.S. dollar on Thursday night (March 23, 2023), edging close to the psychological R18 mark and fuelling expectations of fuel price cuts in April, Moneyweb reports. The currency traded over 1% stronger, at around R18.07 to the greenback, buoyed by the U.S. Federal Reserve raising interest rates by 25 basis points on Wednesday. If the rand stays at current levels or strengthens further by the end of March, fuel prices are expected to ease across the board in April, according to the Automobile Association of South Africa (AA).

This article originally appeared on AllAfrica

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