Based on the mid-month release of unaudited fuel price data by the Central Energy Fund, the petrol price was expected to decrease by 10 to 15 cents per litre, while diesel was likely to see an estimated decline of 32 cents per litre.
Data also indicated a substantial drop of around 27 cents per litre for illuminating paraffin.
The association said the decline in international petroleum prices had outweighed a recent spike in the exchange rate, contributing favourably to anticipated fuel price adjustments.
“The average exchange rate has spiked to around R11.20 to the US dollar and remains stubbornly high, but the good news is that the landed fuel price has dropped by around 10 percent since the last fuel price adjustment,” the association said.
“As things stand, motorists will be paying less at the pumps in November and the picture will improve if the exchange rate comes off its current highs.”
According to the association, the consensus from oil-producing nations seemed to be that the world would enjoy lower petroleum prices in the near term; however, the benefits felt by South Africans would depend largely on the country’s exchange rate.
At the beginning of this month, motorists saw a mix of increases and decreases in fuel prices.
As of 1 October, the price of 93 octane petrol increased by 2 cents per litre and 95 octane petrol dropped by 5 cents per litre.
Liquefied petroleum gas spiked by 12 cents per kilogram, while both grades of diesel decreased by 13 cents per litre, and illuminating paraffin was cut by 18 cents per litre.
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