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News24Wire reports that with two weeks left before November's fuel prices are fixed, the latest information from the Central Energy Fund shows that diesel and petrol prices currently look set for increases.
Based on the latest data, diesel prices are on track for a hike of R1.58 to R1.61 a litre. This would push the Gauteng price of diesel above R25.60 a litre. A year ago, Gauteng diesel price cost around R17.20 a litre. The price of 95 unleaded petrol is expected to increase by around 42c a litre, while the price of 93 petrol could rise by 51c a litre. The fuel prices are usually adjusted on the first Wednesday of a month and determined by the price of oil and the rand-dollar exchange rate. Movements in the oil and the rand over the next two weeks will still influence the final fuel prices for November. While petrol prices have fallen more than 16% from a record high in July, diesel prices have only retreated by 5% and are proving much stickier due to a squeeze on diesel supplies worldwide. In SA, continuing problems with the railways have increased truck deliveries – fuelling the local demand for diesel.
- Read the full original of the report in the above regard at Engineering News
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