Fuel price: More good petrol, diesel news awaits in December 2023

Fuel price: MORE good petrol, diesel news awaits in December 2023

The early fuel projections from the Central Energy Fund for December 2023 shows some excellent news for petrol drivers and diesel car owners.

Petrol prices to drop in October. Image: Wikimedia Commons

The very early fuel projections from the Central Energy Fund (CEF) for December 2023 shows some excellent news for petrol drivers and diesel car owners.

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This news comes on the back of massive price decreases 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 Wednesday, 1 November 2023.

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FUEL	PRICE CHANGE
Petrol 93	decrease of 184 cents
Petrol 95	decrease of 186 cents
Diesel 0.05%	decrease of 201 cents
Diesel 0.005%	decrease of 206 cents
Illuminating Paraffin	decrease of 178 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 – a decrease of 184 cents is expected for petrol 93 octane motorists and a decrease of 186 cents for 95 users.

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Meanwhile, diesel motorists would see something around a 201 to 206 cents per litre decrease.

Finally, illuminating paraffin is expected to decrease by 178 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 $85.70 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R18.49/$.

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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 December.

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Go easy on the accelerator until then, Mzansi.

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The current NOVEMBER 2023 petrol and diesel prices (Inland and Coastal):