The price of petrol and diesel will decrease in November.
The fuel adjustments based on current local and international factors will take effect from the 1st of November.
Petrol, both grades will decrease by R1.78
Diesel will decrease by 85.08 and 85.08 cents per litre
Illuniating Paraffin will decrease by 97 cents per litre
Maximum LPG, however, will increase by R1.49 per kg
Some of the reasons for the fuel price adjustments:
Crude oil prices
The average Brent Crude oil price increased from 91.86 US Dollars (USD) to 88.72 USD during the period under review mainly due to the lifting of sanctions on Venezuela by the US, creating a positive outlook on supply.
There is currently a low impact of the Israel-Hamas conflict as it has not yet affected flow of crude oil, even though it is happening in the Oil rich region of the Middle East.
Rand/US Dollar exchange rate
The Rand depreciated slightly on average, against the US Dollar (from 19.00 to 19.08 Rand per USD) during the period under review
Implementation of the Slate Levy
The cumulative slate balance on petrol and Diesel at the end of September 2023 had a negative balance of R6.2 billion.
Therefore, the slate levy will increase by 21.92 c/l to 52.62 c/l.
This will be implemented in the price structure of petrol and diesel.
