Fuel price watch: BAD petrol, diesel news awaits in March 2024
![Fuel price watch: BAD petrol, diesel news awaits in March 2024 Fuel price watch: BAD petrol, diesel news awaits in March 2024](https://africatopforum.com/wp-content/uploads/2024/02/Petrol_pump.jpg.optimal-0BEoLc-1024x683.jpeg)
The very early fuel projections from the Central Energy Fund (CEF) for March 2024 shows that BAD news lies ahead for diesel and petrol car owners.
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The data is trending towards a big increase for both diesel and petrol prices at the pumps.
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This news comes on the back of price increases for both petrol and diesel earlier this month, as reported by The South African website.
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Below, the latest projections as received by The South African website from the CEF, effective Monday, 12 February 2024.
FUELPRICE CHANGEPetrol 93increase of 131 centsPetrol 95increase of 135 centsDiesel 0.05%increase of 144 centsDiesel 0.005%increase of 159 centsIlluminating Paraffinincrease of 97 cents
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 – an increase of 131 cents is expected for petrol 93 octane motorists and an increase of 135 cents for 95 users.
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Meanwhile, diesel motorists would see between a 144 to 159 cents per litre increase.
Finally, illuminating paraffin is expected to increase by 97 cents.
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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
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Oil price
At the time of publishing the brent crude oil price is $82.27 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R18.85/$.
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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, 5 March.
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Go easy on the accelerator until then, Mzansi.
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The current FEBRUARY 2024 petrol and diesel prices (Inland and Coastal):
INLANDFebruaryPetrol 93R22.92Petrol 95R23.24Diesel 0.05%R21.36Diesel 0.005%R21.43Illuminating ParaffinR15.84
COASTALFebruaryPetrol 93R22.20Petrol 95R22.52Diesel 0.05%R20.64Diesel 0.005%R20.74Illuminating ParaffinR14.91