Motorists may save some more cash this November, as a month-end petrol price decrease is expected.
According to unaudited month-end fuel price data released by the Central Energy Fund (CEF), petrol 93 and 95 are predicted to decrease by 23.5 cents and 27 cents a litre respectively. Diesel 0.05 and 0.005 are also expected to become slightly cheaper by 11 cents and 10 cents a litre respectively, while the price of illuminating paraffin will likely increase by 15 cents.
According to the Automobile Association (AA), this slight decrease is down to a firmer Rand and softer international petroleum prices.
“The only fly in the ointment is illuminating paraffin, whose basic fuel price increased while petrol and diesel were falling, meaning a 15c-a-litre rise for the popular lighting and heating fuel is on the cards,” the AA said.
The Rand has been gradually strengthening against the US Dollar, a trend that continued throughout the month of October. The exchange rate and oil pricing data have also seen more stability this month.
“This gradual appreciation has been mirrored by international oil prices, which softened throughout the month, with steeper reductions seen over the past 10 days,” the AA added.
See the month-end estimates here: Daily 29-10-2020