Cape Town – Mid-month data from the Central Energy Fund (CEF) signals a potential increase in fuel prices in November, breaking a five-month streak of reductions.
Petrol prices may rise by 3 to 14 cents per litre, while diesel could increase by 13 to 14 cents per litre.
“According to the CEF’s figures, ULP95 is expected to be slightly higher by around 14 cents a litre, while ULP93 is set for an increase of around three cents/l. Diesel is expected to increase by between 14 cents and 13 cents/l while illuminating paraffin will increase by around seven cents a litre,” said the Automobile Association (AA) in a statement.
The anticipated adjustments are as follows:
- Petrol 93: increase of 3 cents per litre
- Petrol 95: increase of 14 cents per litre
- Diesel 0.05% (wholesale): increase of 14 cents per litre
- Diesel 0.005% (wholesale): increase of 13 cents per litre
- Illuminating paraffin: increase of 7 cents per litre
The changes are driven by the volatile global oil market and fluctuations in the rand/dollar exchange rate.
Oil prices have fluctuated due to tensions in the Middle East and China’s economic concerns.
Despite some recovery in the rand, uncertainty remains. Final fuel price adjustments will be confirmed by the end of the month.
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Compiled by Betha Madhomu
