Motorists brace for price surge at the pumps next week
After enjoying months of fuel price decreases, it’s likely that motorists will have to dig deeper into their pockets in November.
Motorists can likely expect a fuel price increase next week Wednesday, with petrol and diesel prices projected to rise between 18 cents and 30 cents per litre.
The hike is driven by elevated global oil prices and a recent weakening of the rand, impacting daily travel costs across the region.
The latest data from the Central Energy Fund indicates that fuel price recoveries for November have continued to deteriorate, with motorists now looking at a petrol and diesel price hike of around 20 cents per litre.
Petrol prices show a larger under-recovery, ranging between 18 cents and 30 cents per litre, while diesel under-recoveries are between 22 cents and 23 cents per litre.
This is a marked downturn from mid-month projections, overturning the previous outlook of a possible price reduction.
These are the expected changes:
Petrol 93: Increase of 18 cents per litre
Petrol 95: Increase of 30 cents per litre
Diesel 0.05% (wholesale): Increase of 23 cents per litre
Diesel 0.005% (wholesale): Increase of 22 cents per litre
Illuminating paraffin: Increase of 20 cents per litre.
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