Handle fuel nozzle to refuel. Vehicle fueling facility.
After consecutive increases at the pumps, South Africans are in for some reprieve with an expected decrease for November.
Responding to the month-end unaudited data released by the Central Energy Fund on Tuesday (29 October), the Automobile Association (AA) said it expects the price of petrol to drop by between eight and 18 cents a litre, diesel by 14 cents and illuminating paraffin by 21 cents.
“The Rand has pulled back from its high point at the start of October. This ongoing decline in the average exchange rate has meant that most of its losses have been clawed back, and it will have only a modest impact on the fuel price,” the AA said in a statement.
It however warned that, “Whatever happens to the oil price and Rand from this point affects the price motorists will be paying at the pumps at Christmas. It remains to be seen whether this month’s reductions will continue for the rest of the year”.
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