petrol price
It’s still too early to accurately predict what lies ahead for diesel and petrol prices in March, but the latest data looks GRIM. Image Credit: FB@sanewsgovza

Home » Petrol and diesel price UPDATE: Bad news for next week’s hike

Petrol and diesel price UPDATE: Bad news for next week’s hike

It’s still too early to accurately predict what lies ahead for diesel and petrol prices in March, but the latest data from the Central Energy Fund (CEF) looks DIRE, especially for petrol users. ALSO READ | ARE YOU SMARTER THAN A MATRIC STUDENT: CAN YOU ANSWER THESE MATHS QUESTIONS? Looking ahead, fluctuations in international product prices and rand weakness show […]

20-02-23 11:17
petrol price
It’s still too early to accurately predict what lies ahead for diesel and petrol prices in March, but the latest data looks GRIM. Image Credit: FB@sanewsgovza

It’s still too early to accurately predict what lies ahead for diesel and petrol prices in March, but the latest data from the Central Energy Fund (CEF) looks DIRE, especially for petrol users.

ALSO READ | ARE YOU SMARTER THAN A MATRIC STUDENT: CAN YOU ANSWER THESE MATHS QUESTIONS?

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 17 February 2023:

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Fuel Price change
Petrol 93 increase of 127 cents per litre
Petrol 95 increase of 122 cents per litre
Diesel 0.05% increase of 34 cents per litre
Diesel 0.005% increase of 35 cents per litre
Illuminating Paraffin (wholesale) increase of 29 cents per litre

If these market conditions were to remain constant for the rest of the month – an unlikely scenario with the rand weakening and the oil price increasing – an increase of 127 cents is expected for 93 octane motorists and a increase of 122 cents for 95 users.

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Meanwhile, diesel motorists would see something between a 34 and 35 cents per litre increase.

FUEL PRICE 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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Exchange rate

At the time of publishing the rand/dollar exchange rate is R18.04/$.

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Oil price

At the time of publishing the brent crude oil price is $83.77 a barrel.

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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, 28 February.

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Go easy on the accelerator until then, Mzansi.

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The current prices at the pumps (Inland and Coastal):

Inland February
93 Petrol R21.38
95 Petrol R21.68
0.05% diesel (wholesale) R21.32
0.005% diesel (wholesale) R21.43
Illuminating Paraffin R15.84
LPGAS (p/kg) R36.26
Coastal February
93 Petrol R20.73
95 Petrol R21.03
0.05% diesel (wholesale) R20.67
0.005% diesel (wholesale) R20.79
Illuminating Paraffin R15.05
LPGAS (p/kg) R33.85

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