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 LATEST: Price forecast is officially BAD for February
It’s too early to predict what lies ahead for diesel and petrol prices in February, but latest data suggests Mzansi motorists face bad news.
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
With two weeks to go, it may be too early to accurately predict what lies ahead for diesel and petrol prices in February, but the latest data available from the Central Energy Fund (CEF) looks GRIM.
MUST READ | SOUTH AFRICA TO GET TWO ‘EXTRA’ PUBLIC HOLIDAYS IN 2023
The situation isn’t nearly as rosy as it was earlier in the month – and it’s getting worse and worse by the day.
With a couple of weeks still to go, pain is almost certainly on the way for Mzansi motorists.
WARNING | INTEREST RATE HIKE ON ITS WAY THIS WEEK
PICTURES | SOUTH AFRICA’S 7 MOST WANTED CRIMINALS
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 23 January 2023:
ALSO READ | WHEN IS THE NEXT PUBLIC HOLIDAY IN SOUTH AFRICA?
| Fuel | Price change |
| Petrol 93 | increase of 42 cents per litre |
| Petrol 95 | increase of 36 cents per litre |
| Diesel 0.05% | increase of 17 cents per litre |
| Diesel 0.005% | increase of 6 cents per litre |
| Illuminating Paraffin (wholesale) | increase of 20 cents per litre |
If these market conditions were to remain constant for the rest of the month – an extremely unlikely scenario – an increase of 42 cents is expected for 93 octane motorists and a increase of 36 cents for 95 users.
PICTURES | GUPTA FAMILY MANSION IN CONSTANTIA UP FOR SALE FOR R20 MILLION
Meanwhile, diesel motorists would see something between a 6 and 17 cent increase per litre.
ALSO READ | SCHOOL STARTS NEXT WEEK IN THESE FOUR SOUTH AFRICAN PROVINCES
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
ALSO READ | TOP 10 MOST EXPENSIVE PRIVATE SCHOOLS IN SA IN 2023
Exchange rate
At the time of publishing the rand/dollar exchange rate is R17.27/$.
PICTURES | PICK N PAY OPENS NEW FLAGSHIP STORE IN THE WESTERN CAPE
Oil price
At the time of publishing the brent crude oil price is $88.50 a barrel.
CRIME STATS | YOU’RE MOST LIKELY TO BE A HIJACKING VICTIM IN THIS PROVINCE TODAY
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, 7 February.
LOL | PUN OF THE DAY
Go easy on the accelerator until then, Mzansi.
RIP | ‘WORLD’S DIRTIEST MAN’ DIES MONTHS AFTER TAKING FIRST WASH IN DECADESI
ALSO READ | MZANSI REACTS TO SCHOOL PUPILS’ BAGS FILLED WITH ALCOHOL RATHER THAN HOMEWORK
ALSO READ | ESKOM OWED R50 BILLION BY MUNICIPALITIES – HERE ARE THE WORST OFFENDERS
The current prices at the pumps (Inland and Coastal):
| Inland | January |
| 93 Petrol | R21.10 |
| 95 Petrol | R21.40 |
| 0.05% diesel (wholesale) | R21.23 |
| 0.005% diesel (wholesale) | R21.42 |
| Illuminating Paraffin | R15.26 |
| LPGAS (p/kg) | R34.86 |
| Coastal | January |
| 93 Petrol | R20.45 |
| 95 Petrol | R20.75 |
| 0.05% diesel (wholesale) | R20.58 |
| 0.005% diesel (wholesale) | R20.78 |
| Illuminating Paraffin | R14.47 |
| LPGAS (p/kg) | R32.45 |
LAUGH OUT LOUD | JOKE OF THE DAY
