It’s too early to predict what lies ahead for diesel and petrol prices in March, but the latest data spells bad news for motorists. Image: Pixabay
Fuel price LATEST: Petrol and diesel looking GOOD for December
There is likely to be a petrol price hike in early December, but the news on both that and the diesel front is improving as each day passes.
It’s too early to predict what lies ahead for diesel and petrol prices in March, but the latest data spells bad news for motorists. Image: Pixabay
Indications are that there will be a petrol price hike in early December, but the news on both that and the diesel front is improving as each day passes.
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While it is still too early to accurately predict what lies ahead for petrol and diesel prices in December, the latest data available from the Central Energy Fund – as of 23 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 52 cents per litre |
| Petrol 95 | increase of 63 cents per litre |
| Diesel 0.05% | decrease of 112 cents per litre |
| Diesel 0.005% | decrease of 105 cents per litre |
| Illuminating Paraffin (wholesale) | decrease of 15 cents per litre |
If these market conditions persist for the remainder of November, a hike is on the cards for December for petrol users of between 52 to 63 cents, while diesel motorists could face a 105 to 112 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 R16.94/$.
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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 $85.10 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 |
