November fuel price increase expected

Motorists will have to budget a little bit more as a 14 cents per litre and 25 cents per litre petrol price increase is expected next week.

The prices of 93ULP and 95 ULP are expected to climb by 14 cents a litre and 25 cents per litre respectively.

ALSO READ:  Frugal fuel tips ahead of price hike

Diesel is expected to increase by around 22 cents per litre while illuminating paraffin is expected to be 21 cents per litre more expensive this month.

This is according to the Automobile Association (AA) which was commenting on unaudited data from the Central Energy Fund (CEF).

“The movement in international product prices increased sharply mid-month [October] but slowed towards the end of the month, cushioning what would otherwise be an even wider under-recovery.

“The average rand to US dollar exchange is also adding an impactful but smaller margin to the expected increases,” the AA stated.

ALSO READ: Fuel price cuts linked to GNU economic stability

The anticipated fuel price increase will mean a litre of 95ULP inland will climb from its current level of R21.05/l to R21.30/l, while the price of 93ULP inland will increase from R20.73 per litre to R20.87 per litre.

“These prices are still cheaper than those experienced at the beginning of the year,” said the AA.

“We again urge consumers to monitor their fuel usage carefully and to budget according to the new prices that come into effect on Wednesday, 6 November.

“Ensuring vehicles are well maintained and in good mechanical condition, carefully planning routes and avoiding heavy traffic, if possible, are some ways in which motorists can ensure better fuel consumption.”

Don’t have the ZO app? Download it to your Android or Apple device here:

HAVE YOUR SAY