The five-month streak of fuel price drops is expected to halt in November as rising international oil prices and a weakening Rand put pressure on local fuel costs, Cape {town} Etc reports.
The five-month streak of fuel price drops is expected to halt in November as rising international oil prices and a weakening rand put pressure on local fuel costs,These hikes come as many consumers and motorists continue to face financial struggles.
This data reflects potential over-recoveries, leading to price reductions, or under-recoveries, resulting in price hikes. However, by October 10, 2024, these over-recoveries had dropped significantly to 4 cents for unleaded 95 and 13 cents for unleaded 93.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africans Joke As the Rand Drops by 1%: “What A Moody Rand”SA's currency experienced another decrease in three weeks because of international issues like the tension in the Middle East and the dollar strengthening.
Read more »
Rand Report: Rand strengthens as rate cut cycle approachesThe South African rand opened at R17.82 against the US dollar, near its R17.67 support zone. Despite hopes for strengthening, it slipped to R17.92 by Tuesday.
Read more »
Rand Report: Rand faces volatility amid global tensions and US Dollar gainsThe South African rand started the week at R17.07 to the US dollar, hitting a 20-month high following a stretch of consistent gains.
Read more »
Rand Report: Rand slips after two weeks of strong gainsThis past week, the rand showed strength and volatility, with the USD/ZAR rate dropping from R17.92 to R17.06 by September 2024.
Read more »
South Africa can expect more fuel price cuts as Rand shows resilience against the dollarThe rand has showed some major gains against global currencies but that is not the only good news.
Read more »
High oil price hurts chances of petrol, diesel price cut in NovemberThe early data suggests that SA's motorists could see a price cut at the pumps in November, but a higher oil price may scupper those hopes.
Read more »