Expect a sharp spike in fuel prices for December
Motorists will be sighing with relief that come Wednesday there is no huge jump in the petrol price.
According to the department of energy has released, the latest petrol price adjustments for November shows only a marginal increase for petrol, with a slightly bigger jump for diesel.
According to the department, 93 and 95 grades of petrol will be going up by 4 cents per litre, while the wholesale price of 0.05 per cent and 0.005 per cent diesel will be going up by 23 and 27 cents, respectively.
The wholesale price of illuminating paraffin will go up by 21 cents.
The price hikes are due to the international prices of diesel increasing, while the weakness in the rand versus the dollar offset the decrease in international petrol prices.
It should be noted that according to the AA that fuel prices have not yet felt the full effect of the Rand’s weakening in the wake of Finance Minister Malusi Gigaba’s Medium Term Budget Policy Statement.
The full impact will only be felt in December’s fuel price calculations, meaning South Africans should prepare for further fuel price hikes before Christmas.
