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):
| INLAND | November |
| Petrol 93 | R23.44 |
| Petrol 95 | R23.90 |
| Diesel 0.05% | R24.17 |
| Diesel 0.005% | R24.40 |
| Illuminating Paraffin | R17.95 |
| COASTAL | November |
| Petrol 93 | R22.72 |
| Petrol 95 | R23.18 |
| Diesel 0.05% | R23.44 |
| Diesel 0.005% | R23.71 |
| Illuminating Paraffin | R17.02 |
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