petrol diesel price

Early indications are that there will be a petrol price hike in December, but the news on the diesel front is improving as each day passes. Image: Pixabay

Fuel price LATEST: Petrol price pain, but diesel forecast is GOOD for December

Early indications are that there will be a petrol price hike in December, but the news on the diesel front is improving as each day passes.

petrol diesel price

Early indications are that there will be a petrol price hike in December, but the news on the diesel front is improving as each day passes. Image: Pixabay

Early indications are that there will be a petrol price hike in December, but the news on the diesel front is improving as each day passes.

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While it is too early in the month to accurately predict what lies ahead for diesel and petrol prices in December, the latest data available from the Central Energy Fund – as of 11 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:

FuelPrice change
Petrol 93increase of 103 cents per litre
Petrol 95increase of 115 cents per litre
Diesel 0.05%decrease of 22 cents per litre
Diesel 0.005%decrease of 13 cents per litre
Illuminating Paraffin (wholesale)increase of 37 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 R1.03 and R1.15, while diesel motorists may face a 13 to 22 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 R17.27/$.

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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 $95.56 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):

INLANDOctoberNovember
93 PetrolR22.06R22.57
95 PetrolR22.36R22.87
0.05% diesel (wholesale)R24.06R25.49
0.005% diesel (wholesale)R24.31R25.75
Illuminating ParaffinR16.99R17.76
LPGAS (p/kg)R34.07R33.09
COASTALOctoberNovember
93 PetrolR21.41R21.92
95 PetrolR21.71R22.22
0.05% diesel (wholesale)R23.41R24.84
0.005% diesel (wholesale)R23.67R25.11
Illuminating ParaffinR16.20R16.97
LPGAS (p/kg)R31.66R30.68