In exactly three weeks the new petrol and prices for July 2023 will take effect. For now, the latest numbers don’t bode well. Image: Pixabay
Fuel update: Petrol and diesel price promises good news 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.
In exactly three weeks the new petrol and prices for July 2023 will take effect. For now, the latest numbers don’t bode well. Image: Pixabay
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) looks bad for petrol users – but 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 16 March 2023.
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| Fuel | Price change |
| Petrol 93 | increase of 12 cents per litre |
| Petrol 95 | increase of 13 cents per litre |
| Diesel 0.05% | decrease of 38 cents per litre |
| Diesel 0.005% | decrease of 39 cents per litre |
| Illuminating Paraffin (wholesale) | decrease of 88 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 12 cents is expected for 93 octane motorists and an increase of 13 cents for 95 users.
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Meanwhile, diesel motorists would see something between a 38 to 39 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 R18.28/$.
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Oil price
At the time of publishing the brent crude oil price is $75.03 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 | March |
| 93 Petrol | R22.65 |
| 95 Petrol | R22.95 |
| 0.05% diesel (wholesale) | R21.63 |
| 0.005% diesel (wholesale) | R21.72 |
| Illuminating Paraffin | R15.97 |
| LPGAS (p/kg) | R38.68 |
| Coastal | March |
| 93 Petrol | R22.00 |
| 95 Petrol | R22.30 |
| 0.05% diesel (wholesale) | R20.97 |
| 0.005% diesel (wholesale) | R21.08 |
| Illuminating Paraffin | R15.18 |
| LPGAS (p/kg) | R36.10 |
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