Motorists Face More Relief As Early Data Predicts Fuel Price Drop for November

• Further relief at the pumps is looming for South African motorists in November
• Early data from the Central Energy Fund predicted a sixth consecutive petrol price drop
• Several factors impact the petrol price, such as the Middle East conflict and exchange rate

JOHANNESBURG — A series of fuel cuts in 2024 has provided South African motorists with a lifeline.

The Central Energy Fund's (CEF) early data predicted another petrol price decrease in November amid a trend seen over the last several months.

Motorists face more relief

This could see the country enter a sixth month in which motorists have experienced relief at the fuel pump.

However, it depends on market conditions staying consistent throughout October. The catch? A favourable rand's performance against the dollar.

Read also

"That wild": White girls' 'This is Africa' challenge with helpers sparks outrage in SA

The exchange rate is one of several factors influencing prices after a recent rand depreciation against the dollar.

Persistent fighting in the Middle East has further contributed to the rising increase in the price of oil.

Again, due to the early data, despite these factors, motorists can expect an 83-cent decrease for a litre of petrol 93 octane.

95 users could benefit from an 80-cent reduction. The Department of Petroleum and Mineral Resources has yet to confirm the data later this month.

If it stands, it would be the sixth consecutive cut ahead of the festive season.

Meanwhile, diesel is expected to drop by 77 cents per litre, and illuminating paraffin will remain at 83 cents.

Source: Briefly News