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South Africans Brace for Fuel Price Increase in November
Offshore Africa
|October 2024
Petrol and diesel price cuts expected in South Africa in November have been diminished by a weaker rand and rising global oil prices. Motorists are still lined up for a cut, but it will be much smaller than projected at the start of the month.
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The latest data from the Central Energy Fund (CEF) points to a small cut of between 15 and 23 cents per litre for petrol and around 10 cents per litre for diesel. This is down significantly from the 80 cents per litre cuts projected just a week ago.
According to Investec chief economist Annabel Bishop, the rising oil price and the weakening local currency have been the main culprits in eroding the potential cut in November.
Dit verhaal komt uit de October 2024-editie van Offshore Africa.
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