Fuel price latest: Petrol, diesel holding on as rand takes a battering
It’s too early to predict what lies ahead for the price of fuel in June, but the latest data remains good for SA motorists, BUT … SHOPPERS | Cheapest groceries in South Africa: Checkers v Woolworths v Pick n Pay – and more Looking ahead, fluctuations in international product prices and rand weakness show the following […]
It’s too early to predict what lies ahead for the price of fuel in June, but the latest data remains good for SA motorists, BUT …
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Looking ahead, fluctuations in international product prices and rand weakness show the following under-recoveries (price increases) or over-recoveries (price decreases) for petrol and diesel as per data at 12 May 2023.
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| Fuel | Price change |
| Petrol 93 | decrease of 113 cents per litre |
| Petrol 95 | decrease of 115 cents per litre |
| Diesel 0.05% | decrease of 143 cents per litre |
| Diesel 0.005% | decrease of 133 cents per litre |
| Illuminating Paraffin (wholesale) | decrease of 84 cents per litre |
If these market conditions were to remain constant for the rest of the month – an unlikely scenario with the rand/dollar exchange rate ever changing and the oil price fluctuating – a decrease of 113 cents is expected for 93 octane motorists and a decrease of 115 cents for 95 users.
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Meanwhile, diesel motorists would see something between a 133 and 143 cents per litre decrease.
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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
Exchange rate
At the time of publishing the rand/dollar exchange rate is R19.06/$.
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Oil price
At the time of publishing the brent crude oil price is $74.01 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, 6 June.
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Go easy on the accelerator until then, Mzansi.