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98 Cent Increase In Petrol Price Predicted

The price of fuel looks set to shoot up by around R1 in November.

Two things are happening at the same time that will see the local petrol price increase dramatically in November and probably again in December.

First, the Rand has not been performing extremely well in relation to the US Dollar since the end of September. Though this figure always goes up and down a little, this is a vulnerable area for a country that has to buy fuel in Dollars.

Secondly, there is a big international energy crisis building and the cost of barrels of oil is going up. In fact, it is at some of the highest rates it has been in years. 

When you put those two factors together it means we are now in for a big petrol price jump in November. Sorry diesel users, you are also in for a big shock as the diesel price looks set to go up by a whopping R1.40/litre. 

Petrol (95) is expected to be +- R19.31 / litre in November

Paraffin is expected to be R11.22

Diesel is expected to be R17.13