Fuel price motorists

Fuel price projections for August 2024. Image: iStock

Fuel latest: Early price forecast MIXED for August 2024

The very early look at the price projections for SA’s motorists for August 2024 shows some mixed news for petrol and diesel vehicle owners.

Fuel price motorists

Fuel price projections for August 2024. Image: iStock

An early look at the price projections for South Africa’s motorists for August 2024 shows some mixed news for petrol and diesel vehicle owners.

NOTE: This is an updated article with the latest fuel projections

While petrol is forecast to see a slight decrease, diesel may well become more expensive at the pumps next month.

As reported by The South African website, there was welcome news last week following a price decrease for both petrol and diesel.

Below, the latest projections as received by The South African website from the CEF, effective Thursday, 11 July.

FUELPRICE CHANGE
Petrol 93decrease of 7 cents
Petrol 95decrease of 10 cents
Diesel 0.05%increase of 18 cents
Diesel 0.005%increase of 4 cents
Illuminating Paraffinincrease of 12 cents

If the market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate ever fluctuating and the oil price changing – a decrease of 7 cents is expected for petrol 93 octane motorists and a decrease of 10 cents for 95 users.

Meanwhile, diesel motorists would see something between a 4 to 18 cents per litre increase.

Finally, illuminating paraffin is expected to increase by 12 cents.

FUEL PRICE IN SOUTH AFRICA 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


Oil price

At the time of publishing the brent crude oil price is $85.88 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R17.97/$.


The final overall price changes for both petrol and diesel will be confirmed in the weeks ahead with the new prices coming into effect at midnight on Tuesday, 6 August.

Go easy on the accelerator until then, Mzansi.


The current JULY 2024 petrol and diesel prices (Inland and Coastal):

INLANDJuly
Petrol 93R22.86
Petrol 95R23.26
Diesel 0.05%R20.66
Diesel 0.005%R20.91
Illuminating ParaffinR15.02
COASTALJuly
Petrol 93R22.07
Petrol 95R22.47
Diesel 0.05%R19.87
Diesel 0.005%R20.15
Illuminating ParaffinR14.02