It’s too early to know what lies ahead for petrol and prices in early July 2023, but the latest data from the CEF looks more good than bad. Photo: Canva
Petrol and diesel price LATEST: Data suggests GOOD news for February
While it’s too early to predict what lies ahead for diesel and petrol prices in February, the latest data available shows encouraging signs.
It’s too early to know what lies ahead for petrol and prices in early July 2023, but the latest data from the CEF looks more good than bad. Photo: Canva
While it’s still too early to accurately predict what lies ahead for diesel and petrol prices in February, the latest data available from the Central Energy Fund (CEF) shows encouraging signs.
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As a reminder, both petrol and diesel prices dropped significantly last week in what was welcome news for Mzansi motorists.
Petrol decreased by R2.06 per litre for both 93 and 95 octanes, while the 0.05% diesel price dropped by R2.69 per litre and the 0.005% diesel price by R2.81.
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Fluctuations in international product prices and rand weakness show the following over-recoveries (price decreases) for petrol and diesel as per data at 6 January 2023:
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| Fuel | Price change |
| Petrol 93 | decrease of 68 cents per litre |
| Petrol 95 | decrease of 74 cents per litre |
| Diesel 0.05% | decrease of 121 cents per litre |
| Diesel 0.005% | decrease of 136 cents per litre |
| Illuminating Paraffin (wholesale) | decrease of 97 cents per litre |
If these market conditions persist for the remainder of January, another significant decrease is on the cards for February for both petrol and diesel users of between 68 to 74 cents for petrol, while diesel motorists could see a 121 to 136 cents per litre drop.
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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 R17.05/$.
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Oil price
At the time of publishing the brent crude oil price is $80.03 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, 7 January.
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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 | 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 |
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