Petrol price hit higher bad news to south Africa vehicle owners and public transport users
Petrol price hit higher bad news to south Africa vehicle owners and public transport users. Next week petrol price is expected to increase once again this is a big jump for south Africans. The petrol price in South Africa is linked to the price of crude oil in international markets and is quoted in US dollars (US$) per barrel. International petrol prices are essentially driven by supply and demand for product in a particular market
According to the CEF, the latest projections for fuel prices in November are as follows:
Petrol 93 & 95 will go up by 48 cents per litre;
Diesel 0.05% will go up by R1.61 per litre;
Diesel 0.005% will go up by R1.64 per litre;
Paraffin will go up by 78 cents per litre.
95 Unleaded petrol currently costs R21.71 per litre at the coast and R22.36 inland, following October’s decrease of R1.02 per litre, while 93 Unleaded currently retails at R22.06.
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“During the review period, the South African consumer faced several macro-economic issues, which an inflationary environment has exacerbated,” it said.
“Higher costs for fuel, food – notably oils, fats, breads and cereals – non-alcoholic beverages and electricity were the main drivers of inflation. Rising input costs have forced many in the restaurant sector to raise their menu prices substantially in the first half of 2022, with more increases anticipated for the remainder of the year.”
Posted dates: 26 October 2022
