JOHANNESBURG, Nov 3 (Reuters) - South Africa's diesel price will fall in November while petrol will be little changed after the government announced fuel-tax cuts in a mid-year budget review.
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The wholesale diesel price will fall by up to 1.20 rand ($0.0722) a litre from November 4, while the regulated petrol price will decline by 1 cent a litre, the petroleum department said on Tuesday, announcing monthly price adjustments
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The finance minister announced the tax cuts last month, cutting the fuel levy by 3 rand per litre for diesel and 1.50 rand per litre for petrol from November 4 to December 1
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Smaller levy reductions will be in place until January 5, part of efforts to ease cost-of-living pressures on households and businesses
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The petroleum department said in a statement that higher crude oil and petroleum product prices and a weaker rand currency contributed to November's fuel price adjustments
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South Africa imports most of its fuel, leaving it vulnerable to fluctuations in global energy prices
($1 = 16.6236 rand)
Reporting by Sfundo Parakozov and Nilutpal Timsina; Additional reporting by Anathi Madubela; Editing by Alexander Winning
Source: Reuters