Petrol price

It’s too early to predict what lies ahead for diesel and petrol prices in February, but the data is worsening by the day. Photo: File

Fuel price LATEST update: Diesel drivers smiling, petrol news GOOD

Indications are that there will be a slight petrol price hike early next week, but the news on the diesel front continues to improve each day.

Petrol price

It’s too early to predict what lies ahead for diesel and petrol prices in February, but the data is worsening by the day. Photo: File

Indications are that there will be a slight petrol price hike early next week, but the news on the diesel front continues to improve as each day passes.

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While we wait to hear what lies ahead for petrol and diesel prices, the latest data available from the Central Energy Fund – as of 30 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 19 cents per litre
Petrol 95increase of 28 cents per litre
Diesel 0.05%decrease of 167 cents per litre
Diesel 0.005%decrease of 162 cents per litre
Illuminating Paraffin (wholesale)decrease of 55 cents per litre

If these market conditions persist for the next few days, a hike is on the cards for December for petrol users of between 19 to 28 cents, while diesel motorists can expert a 162 to 167 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 R17.05/$.

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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 $86.76 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