Fuel price update: R1.00 petrol decrease expected next week
South Africa’s motorists can expect a sizeable petrol price cut next week, while there should also be good news for diesel vehicle owners.
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 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 Tuesday, 25 June.
| FUEL | PRICE CHANGE | |
| Petrol 93 | decrease of 105 cents | |
| Petrol 95 | decrease of 99 cents | |
| Diesel 0.05% | decrease of 30 cents | |
| Diesel 0.005% | decrease of 24 cents | |
| Illuminating Paraffin | decrease of 23 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 105 cents is expected for petrol 93 octane motorists and a decrease of 99 cents for 95 users.
Meanwhile, diesel motorists would see something between a 24 to 30 cents per litre decrease.
Finally, illuminating paraffin is expected to decrease by 23 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 $85.52 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R18.27/$.
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):
| INLAND | June |
| Petrol 93 | R23.91 |
| Petrol 95 | R24.25 |
| Diesel 0.05% | R20.96 |
| Diesel 0.005% | R21.15 |
| Illuminating Paraffin | R15.20 |
| COASTAL | June |
| Petrol 93 | R23.12 |
| Petrol 95 | R23.46 |
| Diesel 0.05% | R20.17 |
| Diesel 0.005% | R20.39 |
| Illuminating Paraffin | R14.20 |