SIGNIFICANT fuel increases expected this week

SIGNIFICANT fuel increases expected this week Photos: Stock/ Canva

Fuel price: EARLY petrol, diesel data doesn’t look good for July 2023

It’s too early to know what lies ahead for petrol and prices in early July 2023, but the latest data from the CEF doesn’t bode well.

SIGNIFICANT fuel increases expected this week

SIGNIFICANT fuel increases expected this week Photos: Stock/ Canva

It’s still far too early to know what lies ahead for both petrol and prices in early July 2023, but the latest data from the Central Energy Fund (CEF) doesn’t bode well for motorists in South Africa.

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Below, the latest projections as received by The South African website from the CEF, effective Thursday, 8 June 2023.

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FUELPRICE CHANGE
Petrol 93decrease of 13 cents
Petrol 95decrease of 3 cents
Diesel 0.05%increase of 2 cents
Diesel 0.005%decrease of 1 cent
Illuminating Paraffinincrease of 2 cents

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If these market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate ever fluctuating and the oil price changing – a decrease of 13 cents is expected for petrol 93 octane motorists and a decrease of 3 cents for 95 users.

Meanwhile, diesel motorists would see something between a 1 cent per litre decrease and a 2 cent hike.

Finally, illuminating paraffin is expected to rise by 2 cents.

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FUEL PRICE IN SOUTH AFRICA IMPACTED BY TWO MAIN FACTORS:

1. The international price of petroleum products, driven mainly by oil prices

2. The rand/dollar exchange rate used in the purchase of these products


Oil price

At the time of publishing the brent crude oil price is $75.74 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R18.85/$.

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The final overall price changes for both petrol and diesel will be confirmed in the weeks ahead with the new prices coming into effect at midnight on Tuesday, 4 July.

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Go easy on the accelerator until then, Mzansi.


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The current JUNE 2023 petrol and diesel prices (Inland and Coastal):

INLANDJune
Petrol 93R22.30
Petrol 95R22.63
Diesel 0.05%R19.31
Diesel 0.005%R19.69
Illuminating ParaffinR13.96
COASTALJune
Petrol 93R21.58
Petrol 95R21.91
Diesel 0.05%R18.58
Diesel 0.005%R18.98
Illuminating ParaffinR13.04

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