Fuel price: Petrol could drop by R2.00 in November 2023
The fuel price projections from the Central Energy Fund for November 2023 show some good news for petrol drivers and diesel car owners.
The mid-month fuel price projections from the Central Energy Fund (CEF) for November 2023 show some good news for petrol drivers and diesel car owners.
NOTE: This is an updated article with the latest petrol and diesel data
ADVICE | Here are 4 healthy FINANCIAL habits you should be practicing
This news comes on the back of massive price hikes for both petrol and diesel earlier this month, as reported by The South African website.
WATCH | Amazon coming to SA in 2024!
Below, the latest projections as received by The South African website from the CEF, effective Tuesday, 17 October 2023.
ALSO READ | Child carer? Check if you’re eligible for a SASSA Foster Child Grant
FUEL | PRICE CHANGE | |
Petrol 93 | decrease of 196 cents | |
Petrol 95 | decrease of 200 cents | |
Diesel 0.05% | decrease of 78 cents | |
Diesel 0.005% | decrease of 83 cents | |
Illuminating Paraffin | decrease of 79 cents |
If these 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 196 cents is expected for petrol 93 octane motorists and a decrease of 200 cents for 95 users.
MUST READ | Which of South Africa’s 9 provinces is the LARGEST by population size?
Meanwhile, diesel motorists would see something around a 78 to 83 cents per litre decrease.
Finally, illuminating paraffin is expected to decrease by 79 cents.
MUST READ | Does leaving appliances plugged in use power?
REMEMBER THIS? | Skukuza Golf Club makes headlines as lions take down giraffe
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 $91.82 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R18.84/$.
ALSO READ: 5 ways to renew your vehicle license online
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, 7 November.
SEE | Kruger Park: Ranger shares picture of black mambas killed by car – LOOK
Go easy on the accelerator until then, Mzansi.
OOPS! | Tattoo FAILS: Daily hilarious ink disasters
The current OCTOBER 2023 petrol and diesel prices (Inland and Coastal):
INLAND | October |
Petrol 93 | R25.22 |
Petrol 95 | R25.68 |
Diesel 0.05% | R25.02 |
Diesel 0.005% | R25.22 |
Illuminating Paraffin | R18.92 |
COASTAL | October |
Petrol 93 | R24.50 |
Petrol 95 | R24.96 |
Diesel 0.05% | R24.29 |
Diesel 0.005% | R24.53 |
Illuminating Paraffin | R17.99 |
LAUGH OUT LOUD | JOKE OF THE DAY