Petrol and Diesel Increases Predicted for Nov 2022

The AA has said that motorists should brace themselves for a petrol and diesel hike in November 2022, ending the good run of decreases.

The good run of back to back fuel price deductions looks like it is coming to an end as the AA has predicted an increase in both petrol and diesel prices for the month of November 2022.

Based on the mid-month data from the Central Energy Fund (CEF), the AA reckons that motorists will be subjected to increases across the board. The main reason behind the forecast is the higher-on-average international price of oil as well as a slightly weaker Rand.

Brace yourself! “The current data shows petrol is expected to increase between 41 and 51 cents a litre but the real concern now is the likely increases to diesel prices. The data is showing diesel will climb by around R1.60/l, a substantial increase to this fuel’s price. The impact of such an increase on ordinary citizens will be significant,” says the Association.

R1.60 increase per litre of diesel will be particularly harsh as any increase here will hurt the average citizen as manufacturers pass the increases down the line. The vast majority of trucks supplying retailers are diesel-powered, and the cost to deliver goods will increase.

There’s a small glimmer of hope however. This is the mid-month forecast based on the current data and can change before the end of October. However, the converse is also true, and if the oil price increases further, the expected increases will be even more severe. “While these figures may change, we don’t expect a reversal; prices are still likely to go up in November. For now, it’s just the quantum of those increases that is at question now,” concludes the AA.