The early fuel projections from the Central Energy Fund (CEF) for January 2024 shows that South Africa’s motorists could be in for even more good news.
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This comes on the back of massive price decreases for both petrol and diesel earlier this week, as reported by The South African website.
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As a reminder, petrol dropped by 65 cents per litre while diesel plummeted by between 235 and 241 cents per litre.
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Below, the latest projections as received by The South African website from the CEF, effective Friday, 8 December 2023.
| FUEL | PRICE CHANGE | |
| Petrol 93 | decrease of 76 cents | |
| Petrol 95 | decrease of 90 cents | |
| Diesel 0.05% | decrease of 168 cents | |
| Diesel 0.005% | decrease of 174 cents | |
| Illuminating Paraffin | decrease of 154 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 76 cents is expected for petrol 93 octane motorists and a decrease of 90 cents for 95 users.
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Meanwhile, diesel motorists would see something around a 168 to 174 cents per litre decrease.
Finally, illuminating paraffin is expected to decrease by 154 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 $76.33 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R19.10/$.
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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, 2 January.
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Go easy on the accelerator until then, Mzansi.
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The current DECEMBER 2023 petrol and diesel prices (Inland and Coastal):
| INLAND | December |
| Petrol 93 | R22.79 |
| Petrol 95 | R23.25 |
| Diesel 0.05% | R21.82 |
| Diesel 0.005% | R21.99 |
| Illuminating Paraffin | R16.24 |
| COASTAL | December |
| Petrol 93 | R22.07 |
| Petrol 95 | R22.53 |
| Diesel 0.05% | R21.09 |
| Diesel 0.005% | R21.30 |
| Illuminating Paraffin | R15.31 |
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