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Petrol price November 2019: AA says petrol and diesel prices to drop

Oct 29, 2019
Petrol price November 2019: AA says petrol and diesel prices to drop

Port Elizabeth - Could we see a cut in the petrol price for November 2019? The Automotive Association of South Africa (AA) says there might be petrol and diesel price drops in November 2019 in the wake of oil price retreats in October.

Commenting on unaudited month-end fuel price data released by the Central Energy Fund (CEF), the AA still said the petrol and diesel price drop for November is however expected to be minimal.

"The Rand has pulled back from its high point at the start of October. This ongoing decline in the average exchange rate has meant that most of its losses have been clawed back, and it will have only a modest impact on the fuel price," says the AA.

The Association says that international oil prices also declined slightly as October wore on.

"As a result, we are anticipating November drops of between eight and 18 cents for petrol, 14 cents for diesel, and 21 cents for illuminating paraffin”.

AA Petrol price November 2019 prediction

The AA notes that oil ticked up slightly from its late-October plateau and says that this could be the start of a strengthening trend into November.

"Whatever happens to the oil price and Rand from this point affects the price motorists will be paying at the pumps at Christmas. It remains to be seen whether this month's reductions will continue for the rest of the year," the AA concludes.

Early this month, the Automotive Association of South Africa in its petrol price prediction for November 2019 did say some motorists will see an increase on their fuel while others will enjoy a drop in prices.

South Africa's petrol and diesel are determined monthly and for most of 2019, there has been increases in fuel prices. Petrol and diesel prices increased in October for the eighth straight month.

The official November 2019 petrol and diesel price announcement will be known this week or early November.

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