Fuel price update: Big petrol and diesel drop expected next week
The latest numbers suggest that there will be a significant petrol and diesel price decrease in South Africa early next month.
The latest numbers from the Central Energy Fund (CEF) suggest that there will be a significant petrol and diesel price decrease for South Africa’s motorists NEXT WEEK.
NOTE: This is an updated article with the latest fuel projections
Should that materialise, it will come as welcome news for all following a price increase for petrol earlier this month.
Below, the latest projections as received from the CEF, effective Monday, 27 May.
| FUEL | PRICE CHANGE |
| Petrol 93 | decrease of 100 cents |
| Petrol 95 | decrease of 100 cents |
| Diesel 0.05% | decrease of 101 cents |
| Diesel 0.005% | decrease of 92 cents |
| Illuminating Paraffin | decrease of 81 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 100 cents is expected for petrol 93 octane motorists and a decrease of 100 cents for 95 users.
Meanwhile, diesel motorists would see something between an 92 to 101 cents per litre decrease.
Finally, illuminating paraffin is expected to decrease by 81 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 $82.80 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R18.35/$.
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):
| INLAND | May |
| Petrol 93 | R25.25 |
| Petrol 95 | R25.49 |
| Diesel 0.05% | R22.15 |
| Diesel 0.005% | R22.24 |
| Illuminating Paraffin | R16.00 |
| COASTAL | May |
| Petrol 93 | R24.36 |
| Petrol 95 | R24.70 |
| Diesel 0.05% | R21.36 |
| Diesel 0.005% | R21.48 |
| Illuminating Paraffin | R15.00 |