Another drop in fuel prices for November
The Department of Energy and Mineral Resources says another drop in petrol prices is set to take effect on Wednesday.
Consumers can expect to pay 27 cents less for a litre of both grades of petrol.
This is the second consecutive drop.
Diesel will decrease by between 11 and 12 cents per litre while the price of illuminating paraffin hikes will go up 15 cents a litre.
LP Gas will also increase by 26 cents per kilogram.
“The main reason for these adjustments are as follows: the rand appreciated against the dollar during the period under review and also the price of crude oil decreased very slightly during the same period,” says Maake.
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Maake says the second wave of the Covid-19 pandemic will likely cause more changes in the market.
“The market has not necessarily rebounded yet because if we look at Europe, most of the countries are now going back into a hard lockdown because of the second wave of the pandemic that side and those are the biggest consumers of fuel products and that’s one of the reasons why the price of crude oil has been 43 or 45 U.S dollars per barrel,” he explains.
Germany entered into a month-long partial lockdown on Monday after a spike in infections.
England is also expected to go into a second national lockdown later this week as the globe battles to keep the second wave of infections at bay.
