Cape Town – The Central Energy Fund’s unaudited data indicates that fuel prices in South Africa will rise in November, with 93ULP and 95ULP increasing by 14c and 25c per litre, respectively.
Diesel and illuminating paraffin prices are expected to go up by about 22c and 21c per litre.
Although international prices spiked mid-month, a slight slowdown and a stable rand-to-dollar exchange helped minimize the increase.
“The movement in international product prices increased sharply mid-month but slowed towards the end of the month, cushioning what would otherwise be an even wider under-recovery. The average rand to US dollar exchange rate is also adding an impactful but smaller margin to the expected increases,” the AA said AA.
The Automobile Association advises motorists to monitor fuel use and plan budgets accordingly, as prices take effect on November 6.
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Compiled by Betha Madhomu
