petrol and diesel price
The latest fuel projections for March 2024 still shows that bad news lies ahead for diesel and petrol car owners next week. Image Credit: SANews

Home » Fuel price UPDATE: Big petrol and diesel DROP coming next week

Fuel price UPDATE: Big petrol and diesel DROP coming next week

The latest fuel projections for December 2023 shows excellent news lies ahead for both petrol drivers and diesel car owners.

30-11-23 12:19
petrol and diesel price
The latest fuel projections for March 2024 still shows that bad news lies ahead for diesel and petrol car owners next week. Image Credit: SANews

The latest fuel projections from the Central Energy Fund (CEF) for December 2023 shows excellent news lies ahead for diesel drivers and a promising outlook for petrol car owners.

This news comes on the back of massive price decreases for both petrol and diesel earlier this month, as reported by The South African website.

ALSO READ | Government spent a WHOPPING R55 million on new bakkies for traditional leaders

Below, the latest projections as received from the CEF, effective Wednesday, 29 November 2023.

FUELPRICE CHANGE
Petrol 93decrease of 98 cents
Petrol 95decrease of 100 cents
Diesel 0.05%decrease of 223 cents
Diesel 0.005%decrease of 229 cents
Illuminating Paraffindecrease of 184 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 – a decrease of 98 cents is expected for petrol 93 octane motorists and a decrease of 100 cents for 95 users.

ALSO READ: Elon Musk’s latest gamble: Tesla Cybertruck set for debut

Meanwhile, diesel motorists would see something around a 223 to 229 cents per litre decrease.

Finally, illuminating paraffin is expected to decrease by 184 cents.

MUST READ | Does leaving appliances plugged in use power?

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 $83.33 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R18.72/$.

ALSO READ: 5 ways to renew your vehicle license online


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, 5 December.

Go easy on the accelerator until then, Mzansi.


ALSO READ | ‘Carrots improve eyesight’: 8 common MYTHS debunked

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

INLANDNovember
Petrol 93R23.44
Petrol 95R23.90
Diesel 0.05%R24.17
Diesel 0.005%R24.40
Illuminating ParaffinR17.95
COASTALNovember
Petrol 93R22.72
Petrol 95R23.18
Diesel 0.05%R23.44
Diesel 0.005%R23.71
Illuminating ParaffinR17.02