LIMPOPO – South African motorists could receive some welcome relief at the pumps this week when the Department of Mineral and Petroleum Resources (DMPR) announces the latest monthly fuel price adjustments. The announcement is expected ahead of the new prices taking effect on Wednesday (November 4).

The anticipated decreases follow October’s steep fuel price increases, although the latest Central Energy Fund (CEF) data indicates that international fuel prices and the exchange rate continued to place upward pressure on fuel prices during October.

Expected fuel price changes

According to the latest CEF data, those market factors resulted in under-recoveries across all fuel grades during October. However, temporary fuel levy relief announced by National Treasury is expected to offset much of that increase when the DMPR announces the official November fuel price adjustments.

How fuel prices are calculated

According to the DMPR, South Africa’s monthly fuel prices are influenced by several factors, including:

• International crude oil and refined fuel prices.
• The rand/US dollar exchange rate.
• Fuel taxes and levies.
• Slate Levy adjustments, where applicable.

The department uses these factors, together with applicable taxes, levies and other regulated adjustments, to determine the monthly fuel price adjustments announced on the first Wednesday of each month.

October’s increases

Motorists were hit with significant fuel price increases in October after the DMPR announced:

• Petrol 93: +R3.12/l
• Petrol 95: +R3.33/l
• Diesel (0.05%): +R2.8438/l
• Diesel (0.005%): +R3.2438/l

The increases were attributed mainly to higher international petroleum product prices, while the exchange rate provided only limited relief.

The DMPR is expected to announce the official November fuel price adjustments before they take effect on Wednesday, with the projected reductions offering some welcome relief to households and businesses after October’s sharp fuel price increases.