Fuel price LATEST: Big drop in diesel ahead of Christmas

Indications are that there will be a slight petrol price hike in early December, but the news on the diesel front is excellent!

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While it is still too early to accurately predict what lies ahead next week for petrol and diesel prices, the latest data available from the Central Energy Fund – as of 25 November – shows contrasting signs.

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Fluctuations in international product prices and rand weakness show the following under-recoveries (price increases) for petrol and over-recoveries (price decreases) for diesel:

Fuel	Price change
Petrol 93	increase of 38 cents per litre
Petrol 95	increase of 49 cents per litre
Diesel 0.05%	decrease of 136 cents per litre
Diesel 0.005%	decrease of 129 cents per litre
Illuminating Paraffin (wholesale)	decrease of 31 cents per litre

If these market conditions persist for the next week or so, a hike is on the cards for December for petrol users of between 38 to 49 cents, while diesel motorists can expert a 129 to 136 cents per litre decrease.

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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 R17.12/$.

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Oil price

Global oil prices have remained below $100 a barrel in recent months, but have climbed from a low point of around $83 a barrel at the start of the October.

At the time of publishing the brent crude oil price is $81.35 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, 6 December.

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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	October	November
93 Petrol	R22.06	R22.57
95 Petrol	R22.36	R22.87
0.05% diesel (wholesale)	R24.06	R25.49
0.005% diesel (wholesale)	R24.31	R25.75
Illuminating Paraffin	R16.99	R17.76
LPGAS (p/kg)	R34.07	R33.09

COASTAL	October	November
93 Petrol	R21.41	R21.92
95 Petrol	R21.71	R22.22
0.05% diesel (wholesale)	R23.41	R24.84
0.005% diesel (wholesale)	R23.67	R25.11
Illuminating Paraffin	R16.20	R16.97
LPGAS (p/kg)	R31.66	R30.68