Petrol diesel fuel price

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: Petrol, diesel losing battle against weakening rand

It’s too early to predict what lies ahead for petrol and diesel prices in June. The latest data remains good for SA motorists, BUT …

Petrol diesel fuel price

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 both petrol and prices in early June, but the latest data from the Central Energy Fund (CEF) remains good for motorists in South Africa, BUT …

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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 19 May 2023.

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FuelPrice change
Petrol 93decrease of 100 cents per litre
Petrol 95decrease of 100 cents per litre
Diesel 0.05%decrease of 113 cents per litre
Diesel 0.005%decrease of 106 cents per litre
Illuminating Paraffin (wholesale)decrease of 62 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 – a decrease of 100 cents is expected for 93 octane motorists and a decrease of 100 cents for 95 users.

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Meanwhile, diesel motorists would see something between a 106 and 113 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


Exchange rate

At the time of publishing the rand/dollar exchange rate is R19.46/$.

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Oil price

At the time of publishing the brent crude oil price is $74.82 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, 6 June.

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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):

INLANDMay
93 PetrolR23.01
95 PetrolR23.34
0.05% diesel (wholesale)R20.15
0.005% diesel (wholesale)R20.49
Illuminating ParaffinR14.39
LPGAS (p/kg)R33.32
COASTALMay
93 PetrolR22.29
95 PetrolR22.62
0.05% diesel (wholesale)R19.42
0.005% diesel (wholesale)R19.78
Illuminating ParaffinR13.47
LPGAS (p/kg)R30.73

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