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: Bad petrol and diesel news for August

Fuel price update: Bad petrol and diesel news for August

We are now a fortnight away from the new petrol and diesel prices for August 2023 taking effect. Sadly, the latest numbers from the Central Energy Fund (CEF) don’t paint a pretty picture. Below, the latest projections as received by The South African website from the CEF, effective Wednesday, 19 July 2023. REMINDER | When is the next interest rate announcement? FUEL PRICE […]

20-07-23 13:55
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

We are now a fortnight away from the new petrol and diesel prices for August 2023 taking effect. Sadly, the latest numbers from the Central Energy Fund (CEF) don’t paint a pretty picture.

Below, the latest projections as received by The South African website from the CEF, effective Wednesday, 19 July 2023.

REMINDER | When is the next interest rate announcement?

FUEL PRICE CHANGE
Petrol 93 increase of 5 cents
Petrol 95 increase of 12 cents
Diesel 0.05% increase of 49 cents
Diesel 0.005% increase of 49 cents
Illuminating Paraffin increase of 48 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 5 cents is expected for petrol 93 octane motorists and an increase of 12 cents for 95 users.

Meanwhile, diesel motorists would see something around a 49 cents per litre increase.

Finally, illuminating paraffin is expected to increase by 48 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 $79.69 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R17.76/$.

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DIARISE | When is the next long weekend in South Africa?

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, 1 August.

Go easy on the accelerator until then, Mzansi.


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

INLAND July
Petrol 93 R22.06
Petrol 95 R22.46
Diesel 0.05% R19.49
Diesel 0.005% R19.81
Illuminating Paraffin R13.92
COASTAL July
Petrol 93 R21.34
Petrol 95 R21.74
Diesel 0.05% R18.76
Diesel 0.005% R19.10
Illuminating Paraffin R13.00

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