Fuel prices: Early data looking positive for petrol, diesel in June
It’s still too early to predict what lies ahead fuel prices in June, but the latest data from the Central Energy Fund (CEF) looks EXCELLENT for motorists in South Africa. TRENDING | Spelling error spotted on new South African R100 banknote – AWKWARD Drivers in Mzansi saw a 37 cents per litre petrol price hike last week, while diesel dropped by between 48 and 74 cents per litre. […]
It’s still too early to predict what lies ahead fuel prices in June, but the latest data from the Central Energy Fund (CEF) looks EXCELLENT for motorists in South Africa.
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Drivers in Mzansi saw a 37 cents per litre petrol price hike last week, while diesel dropped by between 48 and 74 cents per litre.
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Looking ahead, fluctuations in international product prices and rand weakness show the following under-recoveries (price increases) or over-recoveries (price decreases) for petrol and diesel as per data at 8 May 2023.
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| Fuel | Price change |
| Petrol 93 | decrease of 119 cents per litre |
| Petrol 95 | decrease of 122 cents per litre |
| Diesel 0.05% | decrease of 167 cents per litre |
| Diesel 0.005% | decrease of 154 cents per litre |
| Illuminating Paraffin (wholesale) | decrease of 103 cents per litre |
If these market conditions were to remain constant for the rest of the month – an unlikely scenario with the rand/dollar exchange rate ever changing and the oil price fluctuating – a decrease of 119 cents is expected for 93 octane motorists and a decrease of 122 cents for 95 users.
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Meanwhile, diesel motorists would see something between a 154 and 167 cents per litre decrease.
FUEL PRICE IN MZANSI 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
Exchange rate
At the time of publishing the rand/dollar exchange rate is R18.69/$.
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Oil price
At the time of publishing the brent crude oil price is $76.91 a barrel.
The final overall price changes for both petrol and diesel will be confirmed in the coming weeks with the new prices coming into effect at midnight on Tuesday, 6 June.
Go easy on the accelerator until then, Mzansi.
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The current prices at the pumps (Inland and Coastal):
| INLAND | May |
| 93 Petrol | R23.01 |
| 95 Petrol | R23.34 |
| 0.05% diesel (wholesale) | R20.15 |
| 0.005% diesel (wholesale) | R20.49 |
| Illuminating Paraffin | R14.39 |
| LPGAS (p/kg) | R33.32 |
| COASTAL | May |
| 93 Petrol | R22.29 |
| 95 Petrol | R22.62 |
| 0.05% diesel (wholesale) | R19.42 |
| 0.005% diesel (wholesale) | R19.78 |
| Illuminating Paraffin | R13.47 |
| LPGAS (p/kg) | R30.73 |
This article was originally published by Garrin Lambley.