Fuel price SHOCKER: Petrol to hit R24 per litre next week!

The latest petrol and diesel numbers from the Central Energy Fund (CEF) paint a worrying picture for September 2023 for South Africa’s motorists.

Below, the latest projections as received by The South African website from the CEF, effective Wednesday, 30 August 2023.

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 160 cents is expected for petrol 93 octane motorists and an increase of 165 cents for 95 users.

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Meanwhile, diesel motorists would see something around a 277 to 285 cents per litre increase.

Finally, illuminating paraffin is expected to increase by 279 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 $86.04 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R18.73/$.

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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, 5 September.

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Go easy on the accelerator until then, Mzansi.

The current AUGUST 2023 petrol and diesel prices (Inland and Coastal):

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