Ricochet News

Petrol price November 2019: Petrol and diesel price cuts still look possible

Oct 25, 2019
Petrol price November 2019: Petrol and diesel price cuts still look possible

Port Elizabeth - Could we see a cut in the petrol price for November 2019? At the time of publishing, it seems likely there might be slight petrol and diesel price decreases in November. Any cut in petrol prices is still welcome!

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.

Fast-forward to Thursday, the latest data from the Central Energy Fund shows a strengthening in the Rand against the US Dollar while international oil prices have been falling. Trading around R14.60/US$, at the time of publishing, the Rand was at a strong level in more than a month, after reaching above R15.30 at the end of September.

Following a drone attack on a major Saudi Arabia oil processing plant again in September, oil prices jumped to US$70 a barrel. At the time of publishing, Brent crude oil had dropped to trading at around US$60 a barrel.

Without a doubt the Rand and the Saudi Arabian attack contributed to the October 2019 petrol price increase. Conversely, the strong Rand and falling oil prices make a great combination that could see some relief in fuel prices in November for cash-strapped motorists.

Petrol price November 2019 prediction

According to this latest data from the Central Energy Fund, in November:

  • Petrol prices could be cut by between 3c a litre (95 unleaded) to 15c (93),
  • Diesel prices could drop by between 9c and 11c,
  • Illuminating paraffin by 17c.

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 fuel November 2019 petrol and diesel price announcement will be known in the coming week or early November. We just hope the Rand and oil prices keep the current trend...

Follow more RNEWS articles, subscribe to our YouTube channel and for breaking news LIKE us on Facebook. For news on the Western Cape click here.

For great savings on life’s little pleasures visit Bargain Buys!  Know somebody who is getting married, Wedding and Function can assist.  Have kids, then you need to visit Kids Connection. Enjoy food and travel, then visit Home Food and Travel. Need assistance with an online presence, visit Agency One.