Fuel Prices are expected to drop in November following a strengthening Rand and reduced international oil prices.
The Automobile Association of South Africa commented, “The Rand has pulled back from its high point at the start of October. This ongoing decline in the average exchange rate has meant that most of its losses have been clawed back, and it will have only a modest impact on the fuel price. As a result, we are anticipating November drops of between eight and 18 cents for petrol, 14 cents for diesel, and 21 cents for illuminating paraffin”.
This would bring the price of a litre of 95 Unleaded petrol down to around R15.49 at the coast and R16:13 inland, with 93 ULP possibly easing to around R15.61
The final fuel prices for November are goingo to be announced this Friday, with the price changes taking effect next Wednesday, November 6.