Fuel price latest: BAD news awaits in May for Mzansi motorists

It’s still too early to predict what lies ahead for diesel and petrol prices in May, but the latest data from the Central Energy Fund (CEF) is trending towards bad news for diesel motorists, but not great for petrol car owners.

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Looking ahead, fluctuations in international product prices and rand weakness show the following under-recoveries (price increases) or over-recoveries (price decreases) for petrol and diesel as per data at 13 April 2023.

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Fuel	Price change
Petrol 93	increase of 86 cents per litre
Petrol 95	increase of 78 cents per litre
Diesel 0.05%	decrease of 38 cents per litre
Diesel 0.005%	decrease of 20 cents per litre
Illuminating Paraffin (wholesale)	decrease of 39 cents per litre

If these market conditions were to remain constant for the rest of the month – an unlikely scenario with the rand/dollar exchange rate ever changing and the oil price fluctuating – an increase of 86 cents is expected for 93 octane motorists and an increase of 78 cents for 95 users.

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Meanwhile, diesel motorists would see something between a 20 and 38 cents per litre decrease.

FUEL PRICE IN MZANSI 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

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Exchange rate

At the time of publishing the rand/dollar exchange rate is R18.02/$.

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Oil price

At the time of publishing the brent crude oil price is $86.34 a barrel.

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

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Go easy on the accelerator until then, Mzansi.

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The current prices at the pumps (Inland and Coastal):

INLAND	April
93 Petrol	R22.64
95 Petrol	R22.97
0.05% diesel (wholesale)	R20.89
0.005% diesel (wholesale)	R20.97
Illuminating Paraffin	R14.72
LPGAS (p/kg)	R37.76

COAST	April
93 Petrol	R21.92
95 Petrol	R22.25
0.05% diesel (wholesale)	R20.16
0.005% diesel (wholesale)	R20.26
Illuminating Paraffin	R13.80
LPGAS (p/kg)	R35.17

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