The latest data suggests that South Africa’s motorists could be in for bad fuel price news early in 2025.
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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.
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.
However, in recent days the rand has weakened against the dollar, suggesting that South Africa’s motorists will be greeted by bad news early in the New Year.
Below, the latest projections as received by The South African website from the Central Energy Fund (CEF), effective Tuesday, 17 December.
| FUEL | PRICE CHANGE |
| Petrol 93 | increase of 11 cents |
| Petrol 95 | increase of 3 cents |
| Diesel 0.05% | decrease of 3 cents |
| Diesel 0.005% | decrease of 0 cents |
| Illuminating Paraffin | decrease of 14 cents |
If the market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate fluctuating and the oil price ever changing – an increase of 11 cents is expected for petrol 93 octane motorists and an increase of three cents for 95 users.
Meanwhile, diesel motorists would see something between no change and a three cents per litre decrease.
Finally, illuminating paraffin is expected to decrease by 14 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 $73.49 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R18.07/$.
The final overall price changes for both petrol and diesel will be confirmed early next week with the new prices taking effect at midnight on Tuesday, 7 January 2025.
Go easy on the accelerator until then, Mzansi.
The current December 2024 petrol and diesel prices (Inland and Coastal):
| INLAND | December |
| Petrol 93 | R21.15 |
| Petrol 95 | R21.47 |
| Diesel 0.05% | R19.21 |
| Diesel 0.005% | R19.33 |
| Illuminating Paraffin | R13.36 |
| COASTAL | December |
| Petrol 93 | R20.36 |
| Petrol 95 | R20.68 |
| Diesel 0.05% | R18.42 |
| Diesel 0.005% | R18.57 |
| Illuminating Paraffin | R12.36 |
