Fuel price latest: Some signs of relief at the pumps in early April 2024

The latest fuel projections from the Central Energy Fund (CEF) for April 2024 shows that there could be some good news ahead for diesel and petrol car owners in South Africa.

After starting the month looking bleak, a swing in fortune of late has Mzansi drivers hopefully of some respite at the pumps early next month, especially diesel car owners.

This news comes on the back of price increases for both petrol and diesel earlier this month, as reported by The South African website.

Below, the latest projections as received by The South African website from the CEF, effective Thursday, 15 March 2024.

FUEL	PRICE CHANGE
Petrol 93	increase of 9 cents
Petrol 95	increase of 10 cents
Diesel 0.05%	decrease of 32 cents
Diesel 0.005%	decrease of 36 cents
Illuminating Paraffin	decrease of 46 cents

If these market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate ever fluctuating and the oil price changing – an increase of 9 cents is expected for petrol 93 octane motorists and an increase of 10 cents for 95 users.

Meanwhile, diesel motorists would see between a 32 to 36 cents per litre decrease.

Finally, illuminating paraffin is expected to decrease by 46 cents.

FUEL PRICE IN SOUTH AFRICA 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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Oil price

At the time of publishing the brent crude oil price is $85.26 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R18.73/$.

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The final overall price changes for both petrol and diesel will be confirmed in the weeks ahead with the new prices coming into effect at midnight on Tuesday, 2 April.

Go easy on the accelerator until then, Mzansi.

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The current MARCH 2024 petrol and diesel prices (Inland and Coastal):

INLAND	March
Petrol 93	R24.13
Petrol 95	R24.45
Diesel 0.05%	R22.42
Diesel 0.005%	R22.62
Illuminating Paraffin	R16.48

COASTAL	March
Petrol 93	R23.41
Petrol 95	R23.73
Diesel 0.05%	R21.70
Diesel 0.005%	R21.93
Illuminating Paraffin	R15.55