petrol decrease SA
South Africa’s motorists were left fuming on Wednesday when expected petrol and diesel price decrease didn’t reflect at pumps around Mzansi. Image: Pixabay

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Big petrol decrease coming next week

South Africa’s motorists can expect a sizeable petrol price decrease next week, while there should also be good news for diesel vehicle owners.

24-06-24 12:14
petrol decrease SA
South Africa’s motorists were left fuming on Wednesday when expected petrol and diesel price decrease didn’t reflect at pumps around Mzansi. Image: Pixabay

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

NOTE: This is an updated article with the latest fuel projections

While the next fuel price changes are just over a week away, the latest numbers from the Central Energy Fund (CEF) suggest that there is reason to be optimistic.

Should that materialise, it will come as more welcome news following a price decrease for petrol earlier this month.

The increase in the oil price in recent days has, however, seen the overall picture worsen with each update, particularly for diesel car owners.

Below, the latest projections from the CEF, effective Friday, 21 June.

FUELPRICE CHANGE
Petrol 93decrease of 109 cents
Petrol 95decrease of 103 cents
Diesel 0.05%decrease of 35 cents
Diesel 0.005%decrease of 29 cents
Illuminating Paraffindecrease of 27 cents

If the 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 109 cents is expected for petrol 93 octane motorists and a decrease of 103 cents for 95 users.

Meanwhile, diesel motorists would see something between a 29 to 35 cents per litre decrease.

Finally, illuminating paraffin is expected to decrease by 27 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 $85.37 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R18.05/$.


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 July.

Go easy on the accelerator until then, Mzansi.


THE CURRENT JUNE 2024 PETROL AND DIESEL PRICES (INLAND AND COASTAL):

INLANDJune
Petrol 93R23.91
Petrol 95R24.25
Diesel 0.05%R20.96
Diesel 0.005%R21.15
Illuminating ParaffinR15.20
COASTALJune
Petrol 93R23.12
Petrol 95R23.46
Diesel 0.05%R20.17
Diesel 0.005%R20.39
Illuminating ParaffinR14.20