Fuel price projections dashes hopes for SA motorists
The latest fuel price projections have squashed whatever little hope South African motorists had of some relief in April.
The latest fuel price projections from the Central Energy Fund (CEF) for April 2024 suggests that there could be some good news for diesel and petrol drivers in South Africa, but the news has worsened over the last 24 hours.
After starting the month looking bleak, a swing in fortune had Mzansi drivers hopeful of some respite at the pumps early next month, especially diesel car owners.
However, the recent increase in the brent crude oil price and a weakening of the rand against the dollar has dampened spirits.
This news comes on the back of price increases for both petrol and diesel earlier this month, as reported by SAPeople.
Below, the latest projections as received by The South African website from the CEF, effective Monday, 18 March 2024.
| FUEL | PRICE CHANGE | |
| Petrol 93 | increase of 13 cents | |
| Petrol 95 | increase of 14 cents | |
| Diesel 0.05% | decrease of 32 cents | |
| Diesel 0.005% | decrease of 37 cents | |
| Illuminating Paraffin | decrease of 43 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 – an increase of 13 cents is expected for petrol 93 octane motorists and an increase of 14 cents for 95 users.
Meanwhile, diesel motorists would see between a 32 to 37 cents per litre decrease.
Finally, illuminating paraffin is expected to decrease by 43 cents.
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 $86.74 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R18.98/$.
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, 2 April.
Go easy on the accelerator until then, Mzansi.
THE CURRENT MARCH 2024 PETROL AND DIESEL PRICES (INLAND AND COASTAL):
| INLAND | March |
| Petrol 93 | R24.13 |
| Petrol 95 | R24.45 |
| Diesel 0.05% | R22.42 |
| Diesel 0.005% | R22.62 |
| Illuminating Paraffin | R16.48 |
| COASTAL | March |
| Petrol 93 | R23.41 |
| Petrol 95 | R23.73 |
| Diesel 0.05% | R21.70 |
| Diesel 0.005% | R21.93 |
| Illuminating Paraffin | R15.55 |