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Cape Town - Motorists can expect the price of petrol to rise by about 45 cents a litre, diesel by 64c/l and illuminating paraffin by 57c/l in November, the Automobile Association (AA) said on Friday.
This is in line with mid-month expectations. Despite the improved stability of both oil and the rand, consumers will therefore still be in for strain at the pumps, the AA said.
Commenting on unaudited month-end fuel price data released by the Central Energy Fund, the AA said the recent strengthening of the rand against the dollar has not been enough to prevent a hefty fuel price hike for November.
The local unit incurred heavy losses at mid-month in the wake of the decision by the National Prosecuting Authority to charge Finance Minister Pravin Gordhan.
"The deficit has not been made up, even though the rand has been slightly stronger in the last ten days. In the time being international petroleum prices, which had been steadily rising in the first two weeks of October, have flattened out somewhat, which is encouraging," said the AA.
"We once again urge organs of government to exercise the utmost caution in dealing with economically-sensitive issues which can severely impact on working-class citizens."
On October 5 the retail price of petrol (93 octane) rose by 44c/l and that of 95 octane by 43c/l.
The wholesale price of diesel (0.05% sulphur and 0.005% sulphur) increased by 23c/l in October, while the wholesale price of illuminating paraffin went up by 22c/l.
At the time the Department of Energy said the economic factors which impacted fuel prices in September included an increase in the average international product prices of petrol, diesel and illuminating paraffin.
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