It’s too early to tell what lies ahead for the petrol and diesel prices for August 2023, but the latest numbers look grim. Photo: Pixabay
Fuel price latest: Weak rand, high oil spells DOOM for petrol price in May
It’s too early to know for sure what lies ahead for diesel and petrol prices in May, but the latest data is a mixed bag for SA motorists.
It’s too early to tell what lies ahead for the petrol and diesel prices for August 2023, but the latest numbers look grim. Photo: Pixabay
It’s still too early to predict what lies ahead for diesel and petrol prices in May, but the latest data from the Central Energy Fund (CEF) looks ‘ok’ for diesel motorists, but not as much for petrol car owners.
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Looking ahead, fluctuations in international product prices and rand weakness show the following under-recoveries (price increases) or over-recoveries (price decreases) for petrol and diesel as per data at 11 April 2023.
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| Fuel | Price change |
| Petrol 93 | increase of 77 cents per litre |
| Petrol 95 | increase of 70 cents per litre |
| Diesel 0.05% | decrease of 46 cents per litre |
| Diesel 0.005% | decrease of 32 cents per litre |
| Illuminating Paraffin (wholesale) | decrease of 58 cents per litre |
If these market conditions were to remain constant for the rest of the month – an unlikely scenario with the rand/dollar exchange rate ever changing and the oil price fluctuating – an increase of 77 cents is expected for 93 octane motorists and an increase of 70 cents for 95 users.
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Meanwhile, diesel motorists would see something between a 32 and 46 cents per litre decrease.
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 R18.40/$.
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Oil price
At the time of publishing the brent crude oil price is $85.82 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, 4 April.
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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 | April |
| 93 Petrol | R22.64 |
| 95 Petrol | R22.97 |
| 0.05% diesel (wholesale) | R20.89 |
| 0.005% diesel (wholesale) | R20.97 |
| Illuminating Paraffin | R14.72 |
| LPGAS (p/kg) | R37.76 |
| COAST | April |
| 93 Petrol | R21.92 |
| 95 Petrol | R22.25 |
| 0.05% diesel (wholesale) | R20.16 |
| 0.005% diesel (wholesale) | R20.26 |
| Illuminating Paraffin | R13.80 |
| LPGAS (p/kg) | R35.17 |
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