Diesel prices in South Africa will fall in November while petrol prices are set for a marginal adjustment, following fuel levy cuts announced by the government during its mid-year budget review.

The wholesale price of diesel will drop by up to R1.20 (US$0.0722) per litre from 4 November, while the regulated petrol price will decline by one rand cent (US$0.0006) per litre, the Department of Petroleum announced on Tuesday as it released its monthly fuel price adjustments.

Finance Minister Enoch Godongwana announced the levy reductions last month, cutting the fuel levy by R3.00 (US$0.1805) per litre on diesel and R1.50 (US$0.0902) per litre on petrol for the period between 4 November and 1 December.

Smaller levy reductions will remain in effect until 5 January, as part of a broader measure aimed at easing cost-of-living pressures on households and businesses.

The Department of Petroleum said in a statement that rising crude oil and petroleum product prices, combined with a weaker rand, contributed to the November fuel price adjustments.

South Africa imports the bulk of its fuel requirements, leaving the country exposed to fluctuations in international energy prices.

Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=557753