Next week, the government announces an adjustment in fuel prices, and warns citizens of radiation ...
All South Africans expected a drop in fuel prices this November as end-of-month data from the Central Energy Fund shows excessive recoveries of all grades of gasoline and diesel.
CEF data shows that gasoline price shows an excessive recovery of 24 to 27 cents per liter, while diesel is showing an over recovery of around 11 cents per liter.
In the coming days, luminous paraffin shows a decrease in recovery of 15 cents per liter, making it the only fuel expected to see a price increase.
The Energy Department is expected to publish official changes before the new prices go into effect on Wednesday, November 4.
Oil costs in South Africa have been positively affected by the strong rand and lower oil prices over the past month.
While the rand has declined in sessions since the mid-term budget was scheduled, the greenback earlier this week remained under constant pressure throughout the month.
The dollar's weakness is largely due to political anxiety ahead of next week's US presidential election - while other currencies like the euro and the pound sterling faced headwinds from the second wave of Covid-19 infections in the region leading to further restrictions on many eurozone economies. .