Unaudited mid-month fuel price data suggests significant fuel price cuts for November 2023. Details below!

After months of consecutive fuel price increases, consumers can look forward to some relief at the pumps in November 2023.

Unaudited mid-month fuel price data is pointing towards significant reductions across the board with the price of ULP95 and ULP93 expected to be slashed by about R1.97 /litre and R1.92 / litre respectively. As for diesel fuel prices, reductions of around 78c/litre are on the cards.

Stable international oil prices are a major contributing factor and even though the Rand-Dollar exchange rate is weaker on average, signs of recovery could have a positive impact over the next 2 weeks of the month.

“These significant decreases will come at a very critical time for South Africans who have had to dig deeper into their pockets to fill up their vehicles and food trolleys with the previous cycles of fuel increases,” says the AA.

The outlook for November will offer some much-needed relief to consumers, especially with the decrease of diesel which is a big input cost in major sectors such as agriculture, mining, and manufacturing, and an increase here often contributes to increased prices of basic commodities. There are still two weeks before the official adjustment for November which could still be negatively affected by the upward trajectory of oil prices due to the ongoing conflict in Israel,” concludes the AA.

Predicted Fuel Price for October 2023

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