SA fuel prices in May: Stronger rand and lower oil give hope
It’s still too early to predict what lies ahead for fuel prices in May, but the latest data from the Central Energy Fund (CEF) doesn’t look good for petrol car owners in particular. ALSO READ: Gift of the Givers bring much-needed water to Makhanda homes Looking ahead, fluctuations in international product prices and rand weakness show the following […]
It’s still too early to predict what lies ahead for fuel prices in May, but the latest data from the Central Energy Fund (CEF) doesn’t look good for petrol car owners in particular.
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 20 April 2023.
|Petrol 93||increase of 70 cents per litre|
|Petrol 95||increase of 65 cents per litre|
|Diesel 0.05%||decrease of 47 cents per litre|
|Diesel 0.005%||decrease of 22 cents per litre|
|Illuminating Paraffin (wholesale)||decrease of 30 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 70 cents is expected for 93 octane motorists and an increase of 65 cents for 95 users.
Meanwhile, diesel motorists would see something between a 22 and 47 cents per litre decrease.
FUEL PRICES 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 R18.08/$.
At the time of publishing the brent crude oil price is $80.94 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, 2 May.
The current prices at the pumps (Inland and Coastal):
|0.05% diesel (wholesale)||R20.89|
|0.005% diesel (wholesale)||R20.97|
|0.05% diesel (wholesale)||R20.16|
|0.005% diesel (wholesale)||R20.26|