Diesel to come down by at least R1.20/l

The petrol prices for November will be marginally lower than October’s record highs, with both grades decreasing by just 1c a litre. This brings coastal prices to R29.08 a litre for 93-octane petrol and R29.37 for 95-octane.

Inland motorists will continue to pay more than R30 a litre for 95-octane petrol, with the price set at R30.24.

Read: Rising petrol prices change how South Africans fill up

An increase in the slate levy offered motorists little relief, effectively offsetting Treasury’s intervention to reduce petrol prices.

However, diesel will still be cut by R1.10 per litre for 0.05% and R1.20 for 0.005% at wholesale level.

This means diesel will also come down from eye watering figures to sit slightly above the R30 mark.

The Department of Mineral and Petroleum Resources announced the latest fuel price adjustments on Tuesday.

Higher oil prices

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The adjustments come amid persistently elevated Brent crude oil prices during the review period, driven by continued conflict in the Middle East.

The department cited “the recent attacks on Saudi Arabia infrastructure, as well as the high freight and insurance costs caused by ship-to-ship transfers” as contributing factors.

Over the past four weeks, global oil prices averaged $108 a barrel compared with $101 in the previous month. This widened the under-recoveries in fuel prices during October.

The rand also weakened against the US dollar, averaging R16.66 in October, compared with R16.21 previously.

Treasury’s fuel levy relief

Despite the higher slate levy, motorists and diesel-intensive industries will benefit from National Treasury’s decision to cut the fuel levy by R1.50 for petrol and R3 for diesel until 1 December 2026. The relief will be lower thereafter, before winding down in January.

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The slate levy compensates fuel importers for the difference between the international market prices of fuel products and the regulated prices at which they are sold locally.

Read:
Godongwana slashes fuel levies
Government fuel intervention spares motorists more pain

The levy increased by 48.18c a litre, from 87.66c to 135.84c.

“In line with the provisions of the Self-Adjusting Slate Levy Mechanism, the slate levy of 135.84 c/l will be implemented in the price structures of petrol and diesel with effect from the 4th of November 2026,” the department said.

Meanwhile, wholesale illuminating paraffin prices will increase by R2.75 a litre, while liquefied petroleum gas (LPG) prices in Gauteng will rise by R1.83 per kilogram.

Read: Increase in RAF levy in fuel price ‘won’t happen on my watch’ – Creecy

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