Fuel price UPDATE: No good petrol and diesel news for August 2023
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. READ MORE: Petrol tanker caught in crossfire, explosion thwarted Scratch & unlock your share of up to R50 million with Betway! Below, the latest projections as […]
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.
READ MORE: Petrol tanker caught in crossfire, explosion thwarted
Scratch & unlock your share of up to R50 million with Betway!
Below, the latest projections as received by The South African website from the CEF, effective Tuesday, 18 July 2023.
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| FUEL | PRICE CHANGE | |
| Petrol 93 | increase of 2 cents | |
| Petrol 95 | increase of 9 cents | |
| Diesel 0.05% | increase of 47 cents | |
| Diesel 0.005% | increase of 47 cents | |
| Illuminating Paraffin | increase of 46 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 2 cents is expected for petrol 93 octane motorists and an increase of 9 cents for 95 users.
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Meanwhile, diesel motorists would see something around a 47 cents per litre increase.
Finally, illuminating paraffin is expected to increase by 46 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 $80.17 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R17.93/$.
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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, 1 August.
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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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