{"id":844920,"date":"2025-11-28T10:30:00","date_gmt":"2025-11-28T08:30:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=844920"},"modified":"2025-11-28T10:31:38","modified_gmt":"2025-11-28T08:31:38","slug":"bad-news-about-petrol-prices-next-week","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/energy\/844920\/bad-news-about-petrol-prices-next-week\/","title":{"rendered":"Bad news about petrol prices next week"},"content":{"rendered":"\n<p>Month-end data from the Central Energy Fund shows that South African motorists are in for price pain at the pumps next week, with petrol and diesel hikes on the cards.<\/p>\n\n\n\n<p>According to the CEF, the under-recoveries in petrol and diesel prices throughout November have stuck, with the stronger rand not being enough to counter movements in global oil.<\/p>\n\n\n\n<p>Petrol prices are showing an under-recovery of between 20 and 26 cents per litre, and diesel prices are showing a much steeper under-recovery of between 76 and 93 cents per litre.<\/p>\n\n\n\n<p>While the dial has not shifted much for petrol price recoveries over the past week, diesel recoveries have improved by around 15 cents per litre.<\/p>\n\n\n\n<p>These are the projected levels at the end of the month:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Petrol 93:<\/strong> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">increase<\/mark> of 20 cents per litre<\/li>\n\n\n\n<li><strong>Petrol 95:<\/strong> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">increase<\/mark><\/mark> of 26 cents per litre<\/li>\n\n\n\n<li><strong>Diesel 0.05% (wholesale):<\/strong>\u00a0<mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">increase<\/mark><\/mark> of 60 cents per litre<\/li>\n\n\n\n<li><strong>Diesel 0.005% (wholesale):<\/strong>\u00a0<mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">increase<\/mark><\/mark> of 77 cents per litre<\/li>\n\n\n\n<li><strong>Illuminating paraffin:\u00a0<\/strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">increase<\/mark><\/mark> of 68 cents per litre<\/li>\n<\/ul>\n\n\n\n<p>Despite the rand averaging much stronger than in October, rising global fuel prices have undercut the gains on the exchange rate.<\/p>\n\n\n\n<p>Specifically, the rand\/dollar exchange is contributing to a positive over-recovery of about 4 cents per litre, while the movement in international product prices is undercutting this with a 24-81 cents per litre under-recovery.<\/p>\n\n\n\n<p>The rand has maintained its resilience following the medium-term budget review, though it has retreated from sub-R17\/$ levels.<\/p>\n\n\n\n<p>The unit briefly traded around R16.97 to the dollar following the mini budget and a ratings upgrade from S&amp;P Global, aided by a weaker dollar.<\/p>\n\n\n\n<p>However, it retreated to pre-budget levels soon after as markets pulled out of riskier assets as delayed US economic data filtered through.<\/p>\n\n\n\n<p>Since the budget review, the rand has been fluctuating in a narrow range, sticking around R17.15-R17.35 to the dollar.<\/p>\n\n\n\n<p>This is relatively flat compared to October&#8217;s average, hence the small over-recovery in the data.<\/p>\n\n\n\n<p>That said, sentiment and prospects for South Africa remain better than expected, given global uncertainties and deteriorating relations with the United States.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Eyes on Russia<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/10\/Oil-barrels.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/10\/Oil-barrels-1024x576.jpg\" alt=\"\" class=\"wp-image-840916\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/10\/Oil-barrels-1024x576.jpg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/10\/Oil-barrels-300x169.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/10\/Oil-barrels-768x432.jpg 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/10\/Oil-barrels.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p>Global oil prices have been fluctuating more wildly throughout November as markets grappled with supply and demand shifts as well as wider geopolitical tensions, particularly between the US and Russia.<\/p>\n\n\n\n<p>Oil is currently trading at around $63 a barrel, higher than the average in October.<\/p>\n\n\n\n<p>On supply and demand, traders are crunching numbers and tempering expectations around oil producers (OPEC+), as well as demand from consumers like China.<\/p>\n\n\n\n<p>Brent oil has fallen 15% this year, with prices hurt by expectations for a global glut after OPEC+ restarted capacity, while drillers outside the alliance also added supplies. <\/p>\n\n\n\n<p>The market is facing a daily surplus of 2.8 million barrels next year, and 2.7 million in 2027, according to JPMorgan Chase &amp; Co.<\/p>\n\n\n\n<p>However, with US pressure on Russia to end its war in Ukraine, the market could face a flood of even more oil if sanctions on the federation are loosened.<\/p>\n\n\n\n<p>According to Bloomberg analysis, an end to the conflict would have significant ramifications for the oil market. <\/p>\n\n\n\n<p>In a sign that US sanctions are stressing Russian producers, the amount of crude stored at the nation\u2019s oil fields has jumped to more than 16 million barrels, a level seen only twice since the invasion of Ukraine in 2022.<\/p>\n\n\n\n<p>&#8220;Russia is one of the world\u2019s leading producers, and its flows are subject to heavy Western sanctions. Any easing of curbs following a deal could unleash restricted supplies to buyers such as China, India and Turkey,&#8221; it said.<\/p>\n\n\n\n<p>However, analysts have noted that any peace deal would take time to go through, and there is no certainty about what would happen with Russia&#8217;s stockpiles in that event.<\/p>\n\n\n\n<p>Nevertheless, the impact on international petroleum prices has been negative for November compared to October, resulting in under-recoveries in local pricing.<\/p>\n\n\n\n<p>The Department of Petroleum and Mineral Resources will announce the official changes before they take effect on Wednesday, 3 December 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Month-end data from the Central Energy Fund shows that South African motorists are in for price pain at the pumps next week, with petrol and diesel hikes on the cards.<\/p>\n","protected":false},"author":10,"featured_media":821002,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9874],"tags":[8995,2171],"class_list":["post-844920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-cef","tag-petrol-price"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/844920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=844920"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/844920\/revisions"}],"predecessor-version":[{"id":844939,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/844920\/revisions\/844939"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/821002"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=844920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=844920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=844920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}