Good news as fuel prices expected to decrease
The outlook for November will offer some much-needed relief to consumers, says AA
There might be some relief at the pumps for motorists as fuel prices are expected to decrease in November.
The price of unleaded petrol (95) is set to drop by around R1.97 per litre while diesel, which has been on an upward trajectory for the last few months, is set for a 78c/litre drop.
This is according to the Automobile Association (AA), based on unaudited mid-month data from the Central Energy Fund (CEF).
The cost of illuminating paraffin is expected to decrease by 74 cents per litre.
“The outlook for November will offer some much-needed relief to consumers, especially with the decrease of diesel, which is a big input cost in major sectors such as agriculture, mining and manufacturing, and an increase here often contributes to increased prices of basic commodities.
“There are still two weeks before the official adjustment for November, which could still be negatively affected by the upward trajectory of oil prices due to the ongoing conflict in Israel,” said AA spokesperson Layton Beard.
Stable international oil prices are reported to be the main driver behind the potential decreases for November.
The Department of Mineral Resources and Energy (DMRE) will announce the official adjusted fuel prices on the first Wednesday of November.
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