South Africans can expect huge relief at the pumps in November when the Department of Mineral Resources and Energy (DMRE) officially announces fuel adjustments for November.
The Automobile Association (AA) says unaudited data from the Central Energy Fund (CEF) is pointing to decreases in petrol of up to R2/litre, and decreases to diesel of around R1/l.
According to the current data, ULP95 is expected to decrease by around R2.01/l and ULP93 by R1.96/l. Diesel is also expected to have a decent decrease of around R1.08/l, with illuminating paraffin also showing an expected decrease of 98c/l.
“After three months of significant increases both petrol and diesel prices are expected to fall below the R25/l mark again. This is good news for motorists, consumers, and the economy, especially heading into the end of the year. These decreases come as South Africans continue to struggle financially and will be welcome relief from the substantial increases seen since August. In July, a litre of ULP95 cost R22.46 (inland). Should the expected decrease materialise, the November price for a litre of ULP95 inland will cost around R23.68,” notes the AA.
The Association says the CEF data is pointing to significant drops in the cost of international product prices on average over October as the biggest contributor to the decreases.
While the Rand has weakened, and shaving some gloss of the expected decreases, its impact is relatively minor in the context of the bigger picture. The same applies to diesel and illuminating paraffin prices.
The AA again advises motorists to keep their vehicles in good mechanical condition, and their tyres inflated to manufacturer’s specifications to ensure optimal fuel usage despite the expectant decrease in fuel.
Minimising trips where possible, using air conditioners sparingly, and not overloading the vehicle are other measures owners can take to decrease fuel consumption.
“Although we are expecting fuel to be cheaper in November, we remain concerned about the overall high prices which impact on all consumers. A sustainable solution to mitigating rising fuel costs is still necessary and until that solution is found, citizens will be at the mercy of fuel price hikes,” concludes the AA.
The DMRE is expected to make an official announcement of the adjusted prices for November soon, ahead of the adjustment which occurs on Wednesday, 1 November.