It’s still too early to tell what lies ahead for diesel and petrol prices in April, but for now the latest data from the Central Energy Fund (CEF) looks bad for petrol users – but is improving by the day.
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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 13 March 2023.
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|Petrol 93||increase of 30 cents per litre|
|Petrol 95||increase of 30 cents per litre|
|Diesel 0.05%||decrease of 15 cents per litre|
|Diesel 0.005%||decrease of 16 cents per litre|
|Illuminating Paraffin (wholesale)||decrease of 61 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 – an increase of 30 cents is expected for 93 octane motorists and an increase of 30 cents for 95 users.
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Meanwhile, diesel motorists would see something between a 15 to 16 cent 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
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At the time of publishing the rand/dollar exchange rate is R18.26/$.
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At the time of publishing the brent crude oil price is $80.05 a barrel.
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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, 4 April.
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Go easy on the accelerator until then, Mzansi.
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The current prices at the pumps (Inland and Coastal):
|0.05% diesel (wholesale)||R21.63|
|0.005% diesel (wholesale)||R21.72|
|0.05% diesel (wholesale)||R20.97|
|0.005% diesel (wholesale)||R21.08|
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