Petrol price november r20 per litre

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‘Nearly R20 per litre’: Horror forecast for November petrol price revealed

A few months ago, the prospect of our petrol price nearing R20 per litre was absurd – but November is set to be a bleak month for motorists.

Petrol price november r20 per litre

Photo: Unsplash

That’s not good. Data from the Central Energy Fund (CEF) has shown that the November petrol price in South Africa is set for an almighty spike, as some motorists face the prospect of paying out almost R20 per litre of fuel.

Fuel costs set to skyrocket next month, with some costs nearing R20 per litre…

The horror figures are driven by a soaring crude oil price, and a weakening rand. Both have experienced spectacular fluctuations in the past few weeks, spelling out bad news for the motorists of Mzansi.

The petrol price has spiked since the start of 2021, and as recently as January, it only cost about R14 per litre to fuel up. That, however, is now set to balloon to a high of R19.31p/l for inland regions. Figures from the CEF reveal that costs for both grades of petrol are will soar by 98 cents – and diesel is on course for a mammoth increase of R1.42.

According to the experts at the Bureau for Economic Research (BER), South Africans must prepare for the worst:

“A concern for the global and the SA economy last week was a further rise in the Brent crude oil price. Brent has averaged $82.5/bbl so far in October, up from roughly $75 in September. The Central Energy Fund provided a mid-month update of the over/under recovery on the domestic petrol price on Friday.”

“Given the sharp oil price rise and a weaker rand so far in October, this unsurprisingly signalled that a large petrol price hike is on the cards for November. The average under recovery for 95 octane petrol is at 98c/litre, while for diesel it was more significant at R1.42/litre. This implies we will have a sharp rise in fuel costs in November.”

Petrol price forecast: What will a litre of fuel cost in November?

This horrendous revelation has piled on the misery for millions of fuel consumers. The petrol price itself is a shambles, but diesel – usually considered a cheaper fuel in SA – will now set some motorists back by more than R17 per litre in November, if the current forecast holds true…

  • Petrol 93 INLAND: R19.09
  • Petrol 93 COASTAL: R18.57
  • Petrol 95 INLAND: R19.31
  • Petrol 95 COASTAL: R18.59
  • Diesel wholesale INLAND: R17:13
  • Diesel wholesale COASTAL: R16.52