Fuel price hike this week: Here’s what you'll pay for petrol and diesel in November

Fuel prices are set to rise in November, with small increases expected for both petrol and diesel, the Department of Mineral Resources and Energy (DMRE) confirmed on Monday.

Softer international oil prices in the final week of November have softened the blow for consumers, meaning the increases are smaller than anticipated.

Nonetheless, both 95 Unleaded and 93 Unleaded petrol will increase by 25 cents per litre, while diesel will go up by 20 cents (50ppm) to 21 cents (500ppm), according to the DMRE. Illuminating paraffin will increase by 21 cents.

This will push the price of 95 Unleaded up to R20.51 at the coast and R21.31 in the inland regions, where the less expensive 93 Unleaded grade is expected to hit R20.98.

November’s fuel price increases are largely as a result of international oil prices increasing sharply towards the middle of October, the Automobile Association said, however softer prices towards the end of the month did help to reduce the under-recovery, while a slightly stronger rand (versus the previous month) also softened the blow by around eight cents per litre.

November’s petrol and diesel price hikes follow five months of consecutive fuel price decreases, bringing both fuels to their lowest price level since February 2022. Petrol (95 ULP) is now R1.44 cheaper than it was in January this year. This year’s biggest decreases were in June (R1.24) and October (R1.14) while February to March saw price increases.

ALSO READ: Review of South Africa’s fuel price equation can’t come soon enough, says AA

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