The Central Energy Fund’s (CEF) latest unaudited fuel data indicates that the price of diesel and petrol is likely to increase this month (November).
According to the Automobile Association (AA), the data shows that motorists and fleet owners will have to budget “a little bit more money” to pay for their fuel consumption from next week.
The CEF indicates that 93ULP and 95ULP are expected to climb by 14 cents a litre and 25c/l, respectively, while diesel is expected to increase by around 22c/l. Illuminating paraffin is expected to be 21c/l more expensive from next week than it is now.
“The movement in international product prices increased sharply mid-month but slowed towards the end of the month, cushioning what would otherwise be an even wider under-recovery. The average rand to US dollar exchange rate is also adding an impactful but smaller margin to the expected increases,” the AA said.
Based on these numbers, a litre of 95ULP inland will climb from its current level of R21.05/l to R21.30/l, while the price of 93ULP inland will increase from R20.73/l to R20.87/l. These prices are still cheaper than those experienced at the beginning of the year.
“We again urge consumers to monitor their fuel usage carefully and to budget according to the new fuel prices, which come into effect next Wednesday, November 6,” the association said.
“Ensuring vehicles are well maintained and in good mechanical condition, carefully planning routes, and avoiding heavy traffic if possible are some ways in which motorists can ensure better fuel consumption.”
