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Fuel price increase expected in November – AA warns consumers to brace for impact

After five months of fuel decreases, the trend is set to end in November, according to the Automobile Association (AA).

The AA has commented on unaudited data from the Central Energy Fund (CEF), indicating that a fuel price increase is expected due to higher international product prices and a weakening Rand against the US Dollar.

The CEF’s figures suggest that ULP95 will see a slight increase of around 14 cents per litre, while ULP93 is set to increase by approximately three cents per litre.

Diesel prices are expected to rise by 14 to 13 cents per litre, and illuminating paraffin will increase by around seven cents per litre.

The AA has highlighted the impact of stable fuel prices on inflation and the cost of goods and services, noting that the expected increase in November will add pressure on consumers who are already financially strained.

The AA attributes the anticipated price hikes to a sharp rise in international product prices and the weakening Rand.

With tensions escalating in the Middle East, the AA warns that the local currency could face significant pressure in the coming weeks, potentially leading to higher fuel prices in November.

The official announcement of the fuel price adjustment by the Department of Mineral Resources and Energy is expected on November 4.

Consumers are urged to prepare for higher fuel prices in November, as the AA expects prices to be more expensive than they currently are. Make sure to fill up your tank before the price hike on Wednesday, November

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