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November set to bring higher fuel prices as official announcement looms

31 Oct 2024

While the official price fluctuation in the prices of fuel has not been announced yet, data from the Central Energy Fund indicate that petrol and diesel will increase by 20c a litre.

Source: Unsplash

This comes after continuous dips in fuel pricing for the past few months.

The official pricing will be announced early next week by the Department of Mineral Resources and Energy with the changes taking place on Wednesday, 6 November.

Expected fuel price changes

Petrol 93: +18 c per litre
Petrol 95: +30c per litre
Diesel 0.05% (wholesale): +23c per litre
Diesel 0.005% (wholesale): +22c per litre
Illuminating Paraffin: +20c per litre

Continuing the pattern seen in October, the primary cause of the under-recovery remains the elevated global oil price, which is significantly higher than in September.

Should the local currency stay near its present value, fuel price changes are likely to stay mild heading into the new year and beyond.