Fuel price: Early data shows bad news for August
It’s too early to tell what lies ahead for the petrol and diesel prices for August 2023, but the latest numbers from the Central Energy Fund (CEF) are worsening by the day. Below, the latest projections as received by The South African website from the CEF, effective Monday, 10 July 2023. ALSO READ | Here’s how badly SA ranks in car affordability […]
It’s too early to tell what lies ahead for the petrol and diesel prices for August 2023, but the latest numbers from the Central Energy Fund (CEF) are worsening by the day.
Below, the latest projections as received by The South African website from the CEF, effective Monday, 10 July 2023.
ALSO READ | Here’s how badly SA ranks in car affordability
| FUEL | PRICE CHANGE | |
| Petrol 93 | decrease of 19 cents | |
| Petrol 95 | decrease of 10 cents | |
| Diesel 0.05% | increase of 36 cents | |
| Diesel 0.005% | increase of 34 cents | |
| Illuminating Paraffin | increase of 34 cents |
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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 19 cents is expected for petrol 93 octane motorists and a decrease of 10 cents for 95 users.
Meanwhile, diesel motorists would see something between a 34 and 36 cents per litre increase.
Finally, illuminating paraffin is expected to increase by 34 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 $78.09 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R18.67/$.
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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, 1 August.
Go easy on the accelerator until then, Mzansi.
The current JULY 2023 petrol and diesel prices (Inland and Coastal):
| INLAND | July |
| Petrol 93 | R22.06 |
| Petrol 95 | R22.46 |
| Diesel 0.05% | R19.49 |
| Diesel 0.005% | R19.81 |
| Illuminating Paraffin | R13.92 |
| COASTAL | July |
| Petrol 93 | R21.34 |
| Petrol 95 | R21.74 |
| Diesel 0.05% | R18.76 |
| Diesel 0.005% | R19.10 |
| Illuminating Paraffin | R13.00 |
LAUGH OUT LOUD | JOKE OF THE DAY