petrol price drop
South Africa’s motorists can expect a sizeable petrol price cut next week, while there should also be good news for diesel vehicle owners. Image: Wikimedia Commons

Home » Fuel price UPDATE: Fill up SOON ahead of massive hike next week

Fuel price UPDATE: Fill up SOON ahead of massive hike next week

The latest fuel price numbers from the Central Energy Fund (CEF) spell gloom for next week for South Africa’s motorists.

petrol price drop
South Africa’s motorists can expect a sizeable petrol price cut next week, while there should also be good news for diesel vehicle owners. Image: Wikimedia Commons

The latest fuel price numbers from the Central Energy Fund (CEF) spell gloom for next week for South Africa’s motorists.

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Below, the latest projections as received by The South African website from the CEF, effective Thursday, 31 August 2023.

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FUELPRICE CHANGE
Petrol 93increase of 160 cents
Petrol 95increase of 165 cents
Diesel 0.05%increase of 285 cents
Diesel 0.005%increase of 276 cents
Illuminating Paraffinincrease of 279 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 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 276 to 285 cents per litre increase.

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Finally, illuminating paraffin is expected to increase by 279 cents.

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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 $87.24 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R18.76/$.

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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.


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

INLANDAugust
Petrol 93R22.43
Petrol 95R22.83
Diesel 0.05%R20.21
Diesel 0.005%R20.53
Illuminating ParaffinR14.63
COASTALAugust
Petrol 93R21.71
Petrol 95R22.11
Diesel 0.05%R19.48
Diesel 0.005%R19.82
Illuminating ParaffinR13.71

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