petrol price

Diesel prices in South Africa shot up by R1.43 a litre from Wednesday – and early indications are that further pain awaits in December. Photo: Pixabay

Early days, but petrol and diesel price forecast for December is DIRE

Diesel prices in South Africa shot up by R1.43 a litre from Wednesday – and early indications are that further pain awaits in December.

petrol price

Diesel prices in South Africa shot up by R1.43 a litre from Wednesday – and early indications are that further pain awaits in December. Photo: Pixabay

Diesel prices in South Africa shot up by R1.43 a litre from Wednesday – and early indications are that further pain awaits in December.

WATCH | VIDEO OF MAN RUNNING AWAY FROM ‘PLAYFUL’ PITBULL HAS MZANSI IN STITCHES

The Department of Mineral Resources and Energy confirmed the final fuel adjustments for November, as reported by The South African website.

WATCH | DANCING TEACHER ‘DELIGHTED’ VIRAL VIDEO HELPED UNITE SOUTH AFRICANS

They showed a big jump in prices for both petrol and in particular, diesel.

PICTURES | PICK N PAY OPENS NEW FLAGSHIP STORE IN THE WESTERN CAPE

While diesel went up by R1.43 a litre for 0.05% and R1.44 for 0.005%, petrol for both 93 and 95 octanes increased by 51 cents a litre.

ALSO READ | 3 NEW INTERNATIONAL FLIGHTS LAUNCHING IN SOUTH AFRICA THIS MONTH

Prices adjustments for November as follows:

FuelPrice change
Petrol 93increase of 51 cents per litre
Petrol 95increase of 51 cents per litre
Diesel 0.05%increase of 143 cents per litre
Diesel 0.005%increase of 144 cents per litre
Illuminating Paraffin (wholesale)increase of 77 cents per litre
LPGASdecrease of 98 cents per kilogram

While it is too early in the month to accurately predict what lies ahead for diesel and petrol prices in December, the latest data available from the Central Energy Fund – as of 1 November – shows worrying signs.

Fluctuations in international product prices and rand weakness already show the following under-recoveries – and therefore price increases:

FuelPrice change
Petrol 93increase of 126 cents per litre
Petrol 95increase of 121 cents per litre
Diesel 0.05%increase of 136 cents per litre
Diesel 0.005%increase of 141 cents per litre
Illuminating Paraffin (wholesale)increase of 75 cents per litre

If these market conditions persist for the rest of November, another steep hike is on the cards for December.

PICTURE | ANELE MDODA HAS SOUTH AFRICA DROOLING OVER SNAP OF HER LEGS

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 | US EMBASSY WARNS CITIZENS TO AVOID KRUGER PARK’S NUMBI GATE


Exchange rate

At the time of publishing the rand/dollar exchange rate is R18.13/$.

ALSO READ | ZIMBABWE WILL KEEP THE WORLD’S HIGHEST INTEREST RATES INTO 2023


Oil price

Global oil prices have remained below $100 a barrel in recent months, but have climbed from a low point of around $83 a barrel at the start of the October.

At the time of publishing the brent crude oil price is $94.67 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, 6 December.

ALSO READ | BLACK COFFEE PARTIES WITH DRAKE ON RAPPER’S BIRTHDAY: MZANSI REACTS

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):

INLANDOctoberNovember
93 PetrolR22.06R22.57
95 PetrolR22.36R22.87
0.05% diesel (wholesale)R24.06R25.49
0.005% diesel (wholesale)R24.31R25.75
Illuminating ParaffinR16.99R17.76
LPGAS (p/kg)R34.07R33.09
COASTALOctoberNovember
93 PetrolR21.41R21.92
95 PetrolR21.71R22.22
0.05% diesel (wholesale)R23.41R24.84
0.005% diesel (wholesale)R23.67R25.11
Illuminating ParaffinR16.20R16.97
LPGAS (p/kg)R31.66R30.68