Fuel prices still set for dramatic decrease in November, says AA

South Africans can expect huge relief at the pumps when the mineral resources and energy department announces fuel adjustments for November.

The Automobile Association (AA) says unaudited data from the Central Energy Fund (CEF) is pointing to decreases in petrol of up to R2/l and decreases in diesel of about R1/l. 

According to the data, ULP95 is expected to decrease by about R2.01/l and ULP93 by R1.96/l. Diesel is also expected to have a decent decrease of about R1.08/l, with illuminating paraffin showing an expected decrease of 98c/l.

“After three months of significant increases, petrol and diesel prices are expected to fall below the R25/l mark again,” the AA said.

“This is good news for motorists, consumers and the economy, especially heading to the end of the year. These decreases come as South Africans struggle financially and will be welcome relief from the substantial increases seen since August. In July, a litre of ULP95 cost R22.46 (inland). Should the expected decrease materialise, the November price for a litre of ULP95 inland will cost about R23.68.”

The association said the CEF data is pointing to significant drops in international product prices on average over October as the biggest contributor to the decreases. While the rand has weakened, which shaved some gloss off the expected decreases, its impact is relatively minor in the bigger picture. The same applies to diesel and illuminating paraffin prices.

The AA again advised motorists to keep their vehicles in good mechanical condition and their tyres inflated to manufacturer’s specifications to ensure optimal fuel usage. Minimising trips where possible, using air conditioners sparingly and not overloading the vehicle are other measures owners can take to decrease fuel consumption. 

“Though we are expecting fuel to be cheaper in November, we remain concerned about the overall high prices which affect all consumers. A sustainable solution to mitigating rising fuel costs is still necessary and until that solution is found, citizens will be at the mercy of fuel price hikes,” the AA said.

The department is expected to make an official announcement about the adjusted prices for November soon, before the adjustment which occurs on Wednesday November 1.