No petrol price cut in November as government recoups its September losses
After being hit hard by record high fuel prices, SA drivers’ hopes of a petrol price cut were dashed on Monday, with prices remaining unchanged. The Central Energy Fund (CEF) said the prices of diesel would, however, increase by 48c/l and illuminating paraffin 28c/l from Wednesday. The department of energy attributed the fuel adjustments to the rand’s appreciation and falling Brent crude oil prices. “The average international product prices of petrol decreased, while diesel and illuminating paraffin increased during the period under review,” the department said in a statement. Slight decrease The average rand-dollar exchange rate between September 28 and November 1 was R14.48 compared to R14.47 in the previous period. Based on unaudited data from the CEF last week, the Automobile Association was expecting a slight price decrease of about 16c/l in November. However, the department could not do so since it was recouping losses from the once-off government intervention in the fuel pric...
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