Energy

Here is the official petrol price for November

Staff Writer

 ·30 Oct 2023

The Department of Mineral Resources and Energy has published the official petrol and diesel price changes for November 2023.

Reflecting the trend seen throughout October, motorists are in for a sizeable fuel price cut from Wednesday, 1 November.

Petrol prices will be cut by R1.78 per litre, and diesel will be going down by between 82 and 85 cents a litre.

The average international product prices for Petrol, Diesel and Illuminating Paraffin decreased during the period under review.

The Rand depreciated against the US Dollar during the period under review, on average, when compared to the previous period. The average Rand/US Dollar exchange rate for the period 29 September 2023 to 26 October 2023 was 19.0797 compared to 18.9853 during the previous period.

This led to a higher contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 6.34 c/l, 7.57 c/l and 7.61 c/l, respectively.

The combined cumulative petrol and diesel Slate balances at the end of September 2023 amounted to a negative balance of R 6.267 billion.

In line with the provisions of the Self-Adjusting Slate Levy Mechanism, a Slate Levy of 52.62 c/l (increase of 21.92 c/l) will be implemented into the price structures of petrol and diesel with effect from 01 November 2023.

The Single Maximum National Retail Price for the period 01 November 2023 to 05 December 2023 will be 2 333.0 compared to 2 463.0 c/l for the period 04 October 2023 to 31 October 2023.

This is how the price changes will reflect at the pumps (Diesel prices reflect wholesale, pump prices will differ):

Read: Warning over petrol prices, inflation and interest rates in South Africa