The Central Energy Fund (CEF), as reported by the Automobile Association (AA), has provided unaudited mid-month data that suggests a forthcoming decrease in fuel prices for South Africans in November.
The data indicates a projected reduction of approximately R1.97 per litre for ULP95 and R1.92 per litre for ULP93. Diesel, which has increased in price dramatically in recent months, is expected to decrease by around 78 cents per litre.
But why?
The underlying data from the CEF attributes these potential price reductions to more stable international oil prices, although it should be noted that the weaker Rand-US Dollar exchange rate is somewhat tempering the extent of these reductions.
