2 weeks Ago By Garrin Lambley
The latest data stills suggests that South Africa’s motorists will enjoy a petrol price cut in early December 2024. But while the petrol price is set to drop, the cost of diesel is projected to climb. As reported by The South African website , petrol and diesel vehicle owners in Mzansi saw an increase in the cost of both petrol and diesel earlier this month.
The price hike ended five straight months of decreases in prices. This was mainly as a result of a combination of the rand depreciating against the dollar and the price of oil continuing to rise thanks to ongoing unrest in the Middle East. Below, the latest projections as received by The South African website from the Central Energy Fund (CEF), effective Thursday, 14 November .
If the 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 16 cents is expected for petrol 93 octane motorists and a decrease of 5 cents for 95 users. Meanwhile, diesel motorists would see something between a 38 and 40 cents per litre increase. Finally, illuminating paraffin is expected to increase by 39 cents.
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 $71.
63 a barrel. Exchange rate At the time of publishing the rand/dollar exchange rate is R18.23/$ .
The final overall price changes for both petrol and diesel will be confirmed in the weeks ahead with the new prices taking effect at midnight on Tuesday, 3 December . Go easy on the accelerator until then, Mzansi. The current November 2024 petrol and diesel prices (Inland and Coastal):.
