November fuel price prediction - a mixed bag for motorists
JOHANNESBURG - The price gap between 93 and 95 Unleaded petrol could widen even further in November, according to the latest prediction, which is based on mid-month data released by the Central Energy Fund.
According to the Automobile Association, 93 octane petrol is so far poised to drop by five cents a litre, while 95 octane could rise by around 10 cents a litre.
This would reduce the price of 93 to R15.74 in the inland regions where it’s sold, while 95 would increase to around R16.31 a litre in Gauteng and R15.35 at the coast. This would widen the price gap between 93 and 95 ULP to 57 cents, from the current 42 cents, which already more than doubled from 20c at the beginning of October.
Diesel prices, meanwhile, are looking set to rise by around two cents a litre from the first week of November, while illuminating paraffin could come down by two cents. Diesel currently costs R14.84 at wholesale in the regional areas, with retail prices differing from forecourt to forecourt.
Rand could work in our favour
The AA notes that the rand has strengthened in recent days, after having weakened sharply in the second half of September, and if current trends persist, the fuel price picture could certainly improve by the end of the month.
The oil price, meanwhile, appears to be stabilising, following September’s surge that was caused by the Saudi oil refinery attacks. At the time of writing, Brent Crude was trading at $59.17 a barrel.