South African motorists have had a good run at the fuel pump for the past five months, but the nagging question of when, not if, this luck would end was always on consumers’ minds.
That answer comes as current Central Energy Fund (CEF) data indicated a likely price increase for November 2024.
The CEF calculates petroleum product prices daily on behalf of the government.
Contrary to earlier data on 4 October, the projections now painted an eerie picture after South Africa’s first fuel cut since January kicked in on 7 August.
And with less than three weeks until the adjustment is effected, it’s safe to say the prospects of a decrease seem farfetched.
The prices were mainly influenced by crude oil prices and rand/dollar exchange rate movements.
If the data remains unchanged for the rest of October, motorists can expect an increase of 8 cents for petrol 93 octane and 20 cents for 95 users.
Meanwhile, diesel could see an increase between 15 and 17 cents per litre, while an increase of 10 cents beckoned for illuminating paraffin.
The Mineral Resources and Energy department will communicate the final prices on 6 November. Fuel adjustments come into effect at midnight on the first Wednesday of each month.
