The CEF’s data points to a drop in petrol prices of around R1.90 per litre, while diesel is lining up for a cut of up to 75 cents per litre.
If these over-recoveries carry through to the end of the month, motorists and other fuel users could see the first cuts in three months.

These are the expected changes:

Petrol 93: decrease of 189 cents per litre

Petrol 95: decrease of 193 cents per litre

Diesel 0.05%: decrease of 75 cents per litre

Diesel 0.005%: decrease of 69 cents per litre

Illuminating paraffin: decrease of 72 cents per litre

Daily snapshot data for LP Gas is not presented by the CEF.

The Department of Mineral Resources and Energy (DMRE) has noted that its daily snapshots are not predictive and do not encompass other possible modifications, such as slate levy adjustments or retail margin changes. The department determines these adjustments, considering various factors, at the end of the month.

Domestic fuel costs are primarily governed by the rand/dollar exchange rate and international oil prices. In South Africa, the fuel price is adjusted on the first Wednesday of every month based on these two factors.

For November, lower oil prices have been working in the favour of lower prices, while a generally weaker rand is still pushing an under-recovery.

This week, the rand started off slightly stronger, moving below R19.00 to trade at R18.92 in early trade – but the risk factors that are keeping it under pressure still longer.