petrol diesel fuel

It’s still a day or two too early to know for sure what lies ahead for diesel and petrol prices in April, but the latest data looks good! Photo: File / Archive

Fuel update: Lower oil price may leave Mzansi motorists smiling in April

It’s too early to tell what lies ahead for fuel prices in April, but the latest data from the Central Energy Fund is improving daily.

petrol diesel fuel

It’s still a day or two too early to know for sure what lies ahead for diesel and petrol prices in April, but the latest data looks good! Photo: File / Archive

It’s still too early to tell what lies ahead for diesel and petrol prices in April, but for now the latest data from the Central Energy Fund (CEF) is improving by the day.

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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 17 March 2023.

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FuelPrice change
Petrol 93increase of 8 cents per litre
Petrol 95increase of 9 cents per litre
Diesel 0.05%decrease of 43 cents per litre
Diesel 0.005%decrease of 44 cents per litre
Illuminating Paraffin (wholesale)decrease of 95 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 8 cents is expected for 93 octane motorists and an increase of 9 cents for 95 users.

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Meanwhile, diesel motorists would see something between a 43 to 44 cent 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 $70.65 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):

InlandMarch
93 PetrolR22.65
95 PetrolR22.95
0.05% diesel (wholesale)R21.63
0.005% diesel (wholesale)R21.72
Illuminating ParaffinR15.97
LPGAS (p/kg)R38.68
CoastalMarch
93 PetrolR22.00
95 PetrolR22.30
0.05% diesel (wholesale)R20.97
0.005% diesel (wholesale)R21.08
Illuminating ParaffinR15.18
LPGAS (p/kg)R36.10

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