South Africa’s motorists will be all smiles when filling up their vehicles on Wednesday morning now that petrol and diesel prices have fallen dramatically.
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As reported by The South African website, both grades of petrol and diesel saw price decreases in excess of R1.00 announced earlier this week.
As per the Central Energy Fund (CEF), these will be the fuel price changes reflected at petrol stations around Mzansi from Wednesday, 2 October:
| FUEL | PRICE CHANGE |
| Petrol 93 | decrease of 106 cents |
| Petrol 95 | decrease of 114 cents |
| Diesel 0.05% | decrease of 114 cents |
| Diesel 0.005% | decrease of 112 cents |
| Illuminating Paraffin | decrease of 111 cents |
The price of petrol 93 at the coast will now cost R19.94 per litre (and R20.73 inland).
That represents a dramatic decrease since it hit its high this year of R24.36 on 1 May.
That represents a R4.42 drop per litre in the last five months.
If you car’s petrol tank capacity is 40 litres, that equates to R176.80 less to fill up!
The last time petrol 93 cost under R20 / litre at the pumps was in February 2022.
And there could be even more good news in November!
Should the current stronger rand and low oil prices continue (as they have in recent weeks), further cuts could well be on the cards in early November.
However, the continued fighting in the Middle East has seen a rise in the oil price in recent days.
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 $75.18 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R17.38/$.
Correct as at time of publishing
The NEW October 2024 petrol and diesel prices (Inland and Coastal):
| INLAND | October |
| Petrol 93 | R20.73 |
| Petrol 95 | R21.05 |
| Diesel 0.05% | R18.45 |
| Diesel 0.005% | R18.57 |
| Illuminating Paraffin | R12.66 |
| COASTAL | October |
| Petrol 93 | R19.94 |
| Petrol 95 | R20.26 |
| Diesel 0.05% | R17.66 |
| Diesel 0.005% | R17.81 |
| Illuminating Paraffin | R11.66 |