fuel price june
The latest numbers suggest that there will be a significant petrol and diesel price decrease in South Africa early next month. Photo: SANews

Home » Fuel price update: Early June projections looking positive

Fuel price update: Early June projections looking positive

The very early projections from the Central Energy Fund for June 2024 suggests there will be a petrol and diesel price decrease next month.

07-05-24 14:21
fuel price june
The latest numbers suggest that there will be a significant petrol and diesel price decrease in South Africa early next month. Photo: SANews

The very early projections from the Central Energy Fund (CEF) for June 2024 shows that there will be a petrol and diesel price decrease in South Africa next month.

Should that materialise, it will be welcome news for South African motorists on the back of price increases for petrol earlier this month.

Below, the latest projections as received from the CEF, effective Monday, 6 May 2024.

FUELPRICE CHANGE
Petrol 93decrease of 23 cents
Petrol 95decrease of 24 cents
Diesel 0.05%decrease of 65 cents
Diesel 0.005%decrease of 71 cents
Illuminating Paraffindecrease of 63 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 23 cents is expected for petrol 93 octane motorists and a decrease of 24 cents for 95 users.

Meanwhile, diesel motorists would see between a 65 to 71 cents per litre decrease.

Finally, illuminating paraffin is expected to decrease by 63 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 $83.51 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R18.44/$.


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, 4 June.

Go easy on the accelerator until then, Mzansi.


THE CURRENT MAY 2024 PETROL AND DIESEL PRICES (INLAND AND COASTAL):

INLANDMay
Petrol 93R25.25
Petrol 95R25.49
Diesel 0.05%R22.15
Diesel 0.005%R22.24
Illuminating ParaffinR16.00
COASTALMay
Petrol 93R24.36
Petrol 95R24.70
Diesel 0.05%R21.36
Diesel 0.005%R21.48
Illuminating ParaffinR15.00