We are now a fortnight away from the new petrol and diesel prices for August 2023 taking effect. Sadly, the latest numbers from the Central Energy Fund (CEF) don’t paint a pretty picture.
FUEL | PRICE CHANGE |
Petrol 93 | increase of 5 cents |
Petrol 95 | increase of 12 cents |
Diesel 0.05% | increase of 49 cents |
Diesel 0.005% | increase of 49 cents |
Illuminating Paraffin | increase of 48 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 5 cents is expected for petrol 93 octane motorists and an increase of 12 cents for 95 users.
Meanwhile, diesel motorists would see something around a 49 cents per litre increase.
Finally, illuminating paraffin is expected to increase by 48 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 $79.69 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R17.76/$.
DIARISE | When is the next long weekend in South Africa?
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 |