Fuel price latest: BUMPER petrol and diesel drop next week!
We’re under a week away from the next petrol and diesel price change – and indications are that there will be reason to celebrate!
We’re now under a week away from the next petrol and diesel price change – and indications are that there will be reason to celebrate for Mzansi motorists.
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While it is too early to accurately predict what lies ahead for diesel and petrol prices in January 2023, the latest data available from the Central Energy Fund (CEF) – as of 27 December – shows encouraging signs.
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Fluctuations in international product prices and rand weakness already show the following over-recoveries – and therefore price decreases:
| Fuel | Price change |
| Petrol 93 | decrease of 187 cents per litre |
| Petrol 95 | decrease of 188 cents per litre |
| Diesel 0.05% | decrease of 251 cents per litre |
| Diesel 0.005% | decrease of 263 cents per litre |
| Illuminating Paraffin (wholesale) | decrease of 198 cents per litre |
If these market conditions persist for the next few days, a welcome decrease is on the cards for January 2023 for both petrol and diesel motorists.
If the situation remains consistent with the above figures, petrol (93) would decrease by around R1.87 with 95 octane dropping by R1.88 as well.
Diesel, meanwhile, would see an even bigger drop with 0.05% decreasing by R2.51 and 0.005% by R2.63.
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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 R17.16/$.
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Oil price
At the time of publishing the brent crude oil price is $83.72 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, 3 January 2023.
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Go easy on the accelerator until then, Mzansi.
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Current prices at the pumps (Inland and Coastal):
| Inland | December |
| 93 Petrol | R23.16 |
| 95 Petrol | R23.46 |
| 0.05% diesel (wholesale) | R23.92 |
| 0.005% diesel (wholesale) | R24.23 |
| Illuminating Paraffin | R17.19 |
| LPGAS (p/kg) | R34.04 |
| Coast | December |
| 93 Petrol | R22.51 |
| 95 Petrol | R22.81 |
| 0.05% diesel (wholesale) | R23.27 |
| 0.005% diesel (wholesale) | R23.59 |
| Illuminating Paraffin | R16.40 |
| LPGAS (p/kg) | R31.63 |