Cape Town — South African motorists can breath a sigh of relief as petrol prices are set for big decrease, following many months of continuous increases.
According to an AA South Africa statement released earlier this month, motorists can expect the price per litre for both petrol and diesel to drop for the month of November, according to data from the Central Energy Fund (CEF).
Daily Maverick reported that the currrent data indicates the anticipated drop to be R2.01 per litre for ULP95 and R1.93 per litre for ULP93. Diesel is expected to drop by R1.08 per litre while illuminating paraffin is set for a reduction of 98 cents per litre.
Relief at the pumps expected in November
Read more here: https://t.co/eRtd2sMmRT
#AA #AAPress #fuelrelief #fuel #prices #southafrica pic.twitter.com/X4TwvXKNuj— AA South Africa (@AASouthAfrica) October 18, 2023
“These significant decreases will come at a very critical time for South Africans who have had to dig deeper into their pockets to fill up their vehicles and food trolleys with the previous cycles of fuel increases,” AA said.
The outlook for November will offer some much-needed relief to consumers, especially with the decrease of diesel which is a big input cost in major sectors such as agriculture, mining, and manufacturing, and an increase here often contributes to increased prices of basic commodities.
According to TimesLIVE, the AA said the CEF data is pointing to significant drops in international product prices on average over October as the biggest contributor to the decreases.
Though we are expecting fuel to be cheaper in November, we remain concerned about the overall high prices which affect all consumers. A sustainable solution to mitigating rising fuel costs is still necessary and until that solution is found, citizens will be at the mercy of fuel price hikes,” the AA said.
The department is expected to make an official announcement about the adjusted prices for November soon, before the adjustment which occurs on Wednesday November 1.
Follow African Insider on Facebook, Twitter and Instagram
Picture: Pixabay
For more African news, visit Africaninsider.com
Compiled by Matthew Petersen
