Early fuel price predictions: April might bring good news for motorists
The latest fuel projections from the Central Energy Fund for April 2024 shows that good news may lie ahead for diesel and petrol car owners.
The latest fuel projections from the Central Energy Fund (CEF) for April 2024 shows that good news may lie ahead for diesel and petrol car owners in South Africa.
After starting the month looking bleak, a swing in fortune of late has Mzansi drivers hopefully of some respite at the pumps early next month, especially diesel car owners.
This news comes on the back of price increases for both petrol and diesel earlier this month.
Below, the latest projections as received from the CEF, effective Monday, 11 March 2024.
| FUEL | PRICE CHANGE | |
| Petrol 93 | increase of 24 cents | |
| Petrol 95 | increase of 26 cents | |
| Diesel 0.05% | decrease of 11 cents | |
| Diesel 0.005% | decrease of 14 cents | |
| Illuminating Paraffin | decrease of 35 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 24 cents is expected for petrol 93 octane motorists and an increase of 26 cents for 95 users.
Meanwhile, diesel motorists would see between a 11 to 14 cents per litre decrease.
Finally, illuminating paraffin is expected to decrease by 35 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 $82.69 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R18.61/$.
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 |
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