Fuel prices set to rise in November, motorists advised to adjust budgets
South African motorists should prepare for an increase in fuel prices next month, with the Automobile Association urging careful budgeting and fuel management.
Motorists in South Africa can expect a rise in fuel prices this November, according to preliminary data from the Central Energy Fund (CEF). The Automobile Association (AA) has analysed the figures and advises drivers to allocate additional funds for fuel expenses in the coming month.
Read more: Fuel price expected to rise in November
The expected increases reveal that the price of 93 Octane Unleaded Petrol (ULP) is projected to rise by 14 cents per litre, while 95 ULP is set to increase by 25 cents per litre. Diesel prices are anticipated to go up by approximately 22 cents per litre, and illuminating paraffin is forecasted to be 21 cents more expensive than current rates.
“The fluctuation in global fuel product prices saw a sharp increase mid-month, but this trend began to stabilise towards the end of the month. This has helped reduce what could have been an even steeper increase in costs,” stated the AA. They also noted that the average exchange rate of the rand against the US dollar is contributing to the overall price adjustments, although its impact is comparatively smaller.
Also read: Motorists set for relief as big fuel price cuts expected for October
With these changes, the cost of 95 ULP is expected to rise from R21.05 to R21.30 per litre inland, while 93 ULP will go from R20.73 to R20.87 per litre. Despite these increases, fuel prices remain lower than those recorded earlier this year.
In light of the impending price hikes, the AA is encouraging consumers to keep a close eye on their fuel consumption and to prepare their budgets accordingly, as the new prices take effect next Wednesday, November 6. They recommend that motorists ensure their vehicles are well-maintained, plan their routes efficiently, and strive to avoid congested traffic to optimise fuel efficiency.
As the cost of fuel continues to fluctuate, staying informed and proactive can help South African motorists manage their expenses effectively during this challenging economic climate.
Related article: Major fuel price reductions expected ahead of summer
