November's official petrol and diesel prices are in – with a price hike announced

It’s that time of the month again, folks. Except this time, we don’t have any good news to share, contrary to the past couple of months. In fact, the news we do have to share is all bad, with the Department of Mineral Resources and Energy (DMRE) publishing the official petrol and diesel prices (via the Central Energy Fund) earlier this morning, announcing a (minor) price hike across the board.

Bad news for petrol and diesel drivers

Fortunately, this doesn’t match the R1+ price hikes South Africans have felt before. The DMRE has kept the figures relatively tame this month, despite the five months of price drops South Africans experienced. That goes for all grades of petrol and diesel while illuminating paraffin buyers will suffer the brunt of the hike with a R0.36 increase.

As if you needed any reminding, this means you’ll want to hit the nearest petrol station before Wednesday, 6 November. That’s when the DRME officially adjusts the country’s fuel pumps, leaving only today and Tuesday to make use of the current pricing.

See, the Central Energy Fund (CEF) keeps track of the various economic factors that can fluctuate the country’s fuel pricing, and report on it daily – offering South Africans a reliable metric for where their money is going every month. The DRME reviews this data at the end of any given month, allowing it to determine the official price, meaning it cannot artificially inflate (or deflate) the price.

The one aspect the DRME can control is the Self-Adjusting Slate Levy Mechanism, which will remain at R0.00c/l throughout November.