Motorists will have to budget more for their fuel consumption from this month, as the price is expected to increase from November 6.
According to the Automobile Association (AA), current unaudited fuel data from the Central Energy Fund (CEF) indicates an increase for all grades of fuel.
The AA said 93ULP and 95 ULP were expected to climb by 14 cents a litre and 25c/l, respectively, while diesel was expected to increase by around 22c/l. Illuminating paraffin is expected to be 21c/l more.
Layton Beard, from the AA, said they do not regulate or adjust fuel prices in South Africa, nor do they have any input in how the fuel prices are calculated.
“Fuel prices are officially calculated and adjusted on the first Wednesday of every month by the Department of Mineral Resources and Energy. 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 is also adding an impactful but smaller margin to the expected increases. 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 93 ULP 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,” Beard added.
He said the AA urged consumers to carefully monitor their fuel usage.
“Motorists must budget according to the new fuel prices, which come into effect next Wednesday. 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."