A stabilizing rand suggests that motorists ought to solely expect minor changes to fuel costs in Nov, consistent with the auto Association (AA), with little will increase and reduces expected for ninety-five and ninety-three hydrocarbon gas severally.
Commenting on unaudited mid-month fuel price data released by the Central Energy Fund, the AA said that 93 octane petrol is expected to show a small price drop of 5 cents per litre, while 95 octane petrol is expected to rise by 10 cents per litre.
The price gap between 93 and 95 Unleaded petrol could widen even further in November, according to the latest prediction, which is based on mid-month data released by the Central Energy Fund. According to the Automobile Association, 93 octane petrol is so far poised to drop by five cents a litre, while 95 octane could rise by around 10 cents a litre.
This would reduce the price of 93 to R15.74 in the inland regions where it’s sold, while 95 would increase to around R16.31 a litre in Gauteng and R15.35 at the coast. This would widen the price gap between 93 and 95 ULP to 57 cents, from the current 42 cents, which already more than doubled from 20c at the beginning of October.
Diesel prices, meanwhile, are looking set to rise by around two cents a litre from the first week of November, while illuminating paraffin could come down by two cents. Diesel currently costs R14.84 at wholesale in the regional areas, with retail prices differing from forecourt to forecourt.
Below is a summary of the price changes expected for November 2019:
- 93 octane petrol decrease of 5c per litre
- 95 octane petrol increase of 10c per litre
- Diesel increase of 2c per litre
The AA also said that fuel prices could decrease further before the official announcement at the end of the month. The Rand has trended stronger against the dollar over the past few days, so it’s possible the picture could improve by month-end.
The AA notes that the rand has strong in recent days, once having weakened sharply within the last half of September, and if current trends persist, the fuel worth image may actually improve by the top of the month. The oil worth, meanwhile, seems to be helpful, following September’s surge that was caused by the Saudi refinery attacks. At the time of writing, Brent Crude was commercialism at $59.17 a barrel.
This news will come as a pleasant surprise and relief to most South Africans. I know I for one was on the verge of joining a lift club to save around these ever increasing petrol prices.
By Noni Nchwe