Fuel price UPDATE: Petrol and diesel outlook worsens by the day
It’s still a couple of days too early to know what lies ahead for both petrol and prices in early June. The latest data from the Central Energy Fund (CEF) remains good for motorists in South Africa, BUT …
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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 29 May 2023.
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FuelPrice changePetrol 93decrease of 79 cents per litrePetrol 95decrease of 77 cents per litreDiesel 0.05%decrease of 91 cents per litreDiesel 0.005%decrease of 86 cents per litreIlluminating Paraffin (wholesale)decrease of 47 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 – a decrease of 79 cents is expected for 93 octane motorists and a decrease of 77 cents for 95 users.
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Meanwhile, diesel motorists would see something between a 86 and 91 cents per litre decrease.
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
Exchange rate
At the time of publishing the rand/dollar exchange rate is R19.78/$.
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Oil price
At the time of publishing the brent crude oil price is $76.56 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, 6 June.
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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):
INLANDMay93 PetrolR23.0195 PetrolR23.340.05% diesel (wholesale)R20.150.005% diesel (wholesale)R20.49Illuminating ParaffinR14.39LPGAS (p/kg)R33.32
COASTALMay93 PetrolR22.2995 PetrolR22.620.05% diesel (wholesale)R19.420.005% diesel (wholesale)R19.78Illuminating ParaffinR13.47LPGAS (p/kg)R30.73
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