Petrol diesel price July 2023

In a fortnight from now the new petrol and diesel prices for July 2023 will take effect. A look at the latest numbers from the CEF. Photo: Canva

Petrol and diesel: Early price forecast ‘better’, but DIRE for March

It’s still far too early to accurately predict what lies ahead for diesel and petrol prices in March, but the latest data looks DIRE.

Petrol diesel price July 2023

In a fortnight from now the new petrol and diesel prices for July 2023 will take effect. A look at the latest numbers from the CEF. Photo: Canva

It’s still far too early to accurately predict what lies ahead for diesel and petrol prices in March, but the latest data from the Central Energy Fund (CEF) looks GRIM.

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Mzansi motorists faced an unleaded petrol (both 93 and 95 octanes) increase of 28 cents a litre earlier this week, while diesel was hiked by between one and nine cents a litre.

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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 3 February 2023:

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FuelPrice change
Petrol 93increase of 134 cents per litre
Petrol 95increase of 129 cents per litre
Diesel 0.05%increase of 73 cents per litre
Diesel 0.005%increase of 71 cents per litre
Illuminating Paraffin (wholesale)increase of 95 cents per litre

If these market conditions were to remain constant for the rest of the month – an unlikely scenario – an increase of 134 cents is expected for 93 octane motorists and a increase of 129 cents for 95 users.

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Meanwhile, diesel motorists would see something between a 71 and 73 cents increase per litre.

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 R17.50/$.

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Oil price

At the time of publishing the brent crude oil price is $80.56 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, 28 February.

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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):

InlandFebruary
93 PetrolR21.38
95 PetrolR21.68
0.05% diesel (wholesale)R21.32
0.005% diesel (wholesale)R21.43
Illuminating ParaffinR15.84
LPGAS (p/kg)R36.26
CoastalFebruary
93 PetrolR20.73
95 PetrolR21.03
0.05% diesel (wholesale)R20.67
0.005% diesel (wholesale)R20.79
Illuminating ParaffinR15.05
LPGAS (p/kg)R33.85

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