A stabilising rand means motorists should only expect minor changes to fuel prices in November, according to the Automobile Association (AA), with small increases and decreases expected for 95 and 93 octane petrol respectively.
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 Rand, which lost considerable ground against the US dollar in the second half of September, has stabilised around the R15.20 mark and has generally offset slight rises in international oil prices,” said the AA.
“In its turn, oil has retreated from the price spike arising from last month’s Saudi oil refinery attacks, giving a more stable picture for the motorist.”
A price increase of 2 cents per litre is expected for diesel, said the AA, while illuminating paraffin could become 2 cents cheaper.
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.”.