Fuel station petrol diesel

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. Image: Pixabay

Fuel price latest: BIG diesel drop next week, petrol news not as good

It’s still a day or two too early to know for sure what lies ahead for diesel and petrol prices in April, but the latest data looks good!

Fuel station petrol diesel

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. Image: Pixabay

It’s still a day or two too early to know for sure what lies ahead for diesel and petrol prices in April, but the latest data from the Central Energy Fund (CEF) looks good for both petrol and diesel motorists.

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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 27 March 2023.

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FuelPrice change
Petrol 93decrease of 3 cents per litre
Petrol 95decrease of 1 cents per litre
Diesel 0.05%decrease of 68 cents per litre
Diesel 0.005%decrease of 69 cents per litre
Illuminating Paraffin (wholesale)decrease of 128 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 – a decrease of 3 cents is expected for 93 octane motorists and a decrease of 1 cents for 95 users.

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Meanwhile, diesel motorists would see something between a 68 to 69 cent 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 R18.28/$.

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Oil price

At the time of publishing the brent crude oil price is $78.05 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):

InlandMarch
93 PetrolR22.65
95 PetrolR22.95
0.05% diesel (wholesale)R21.63
0.005% diesel (wholesale)R21.72
Illuminating ParaffinR15.97
LPGAS (p/kg)R38.68
CoastalMarch
93 PetrolR22.00
95 PetrolR22.30
0.05% diesel (wholesale)R20.97
0.005% diesel (wholesale)R21.08
Illuminating ParaffinR15.18
LPGAS (p/kg)R36.10

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