REMINDER: Here’s when the petrol and diesel prices will change

South Africa’s motorists are bracing themselves for a petrol and diesel price hike early next week.

While it looked like a sizeable increase would be on the cards earlier this month, thanks to a lower oil price in recent days, the hike at the pumps shouldn’t be ‘too bad’.

The price changes will come into effect at midnight on Tuesday, 5 November.

As reported by The South African website, petrol and diesel vehicle owners in Mzansi enjoyed a cut in the cost of petrol and diesel earlier this month.

It was the fifth straight month of decreases in prices.

Below are the latest projections as received by The South African website from the Central Energy Fund (CEF), effective Wednesday, 30 October.

If the market conditions were to remain consistent – an unlikely scenario with the rand/dollar exchange rate ever fluctuating and the oil price changing – an increase of 14 cents is expected for petrol 93 octane motorists and an increase of 26 cents for 95 users.

Meanwhile, diesel motorists would see something between a 20 and 21 cents per litre increase.

Finally, illuminating paraffin is expected to increase by 21 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 $72.79 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R17.73/$.

The final overall price changes for both petrol and diesel will be confirmed in the weeks ahead with the new prices taking effect at midnight on Tuesday, 5 November.

Go easy on the accelerator until then, Mzansi.

The current October 2024 petrol and diesel prices (Inland and Coastal):