November fuel price hike announced
Rand firms, oil steady, but fuel price still high - Automobile Association (AA) of South Africa
POLOKWANE – The recent strengthening of the rand against the US dollar has not been enough to prevent a hefty fuel price hike for November, which will come into effect on Wednesday (2 November).
This is the latest news on the latest unaudited month-end fuel price data released by the Central Energy Fund (CEF).
The rand incurred heavy losses at mid-month October in the wake of the National Prosecuting Authorities’ decision to charge Finance Minister Pravin Gordhan with fraud.
The deficit has not been made up, even though the rand has been slightly stronger in the last few days. In the meantime, international petroleum prices, which had been steadily rising in the first two weeks of October, have flattened out somewhat, which is an encouraging factor.
Despite the improved stability of both oil and the rand, consumers will still have to braise themselves at the fuel pumps for these price hikes.
Petrol is set to rise by around 45 cents a litre, diesel by 64 cents and illuminating paraffin by 57 cents.
The Automobile Association (AA) of South Africa says this fuel increase is substantially in line with its mid-month expectations. The AA further stated that it is urging organs of government to exercise the utmost caution in dealing with economically-sensitive issues which can severely impact on working-class citizens.
FUEL PRICE AS FROM 2 NOV 2016:
Petrol 93 & 95 (ULP & LRP) will increase by 45 cents p/l
Diesel 0.05% & 0.005% Sulphur will increase by 63 cents p/l
Illuminating Paraffin (Wholesale) will increase by 57 cents p/l
Illuminating Paraffin (SMNRP) will increase by 76 cents per litre increase in the Single Maximum National Retail price
Maximum Retail Price for LPGAS 59 cents p/kg
