The latest official numbers suggest that South Africa’s motorists will face bad fuel price news in early December 2024.
The cost of diesel is projected to climb, with petrol prices heading in the same direction.
For the latest fuel price news, bookmark The South African website’s dedicated section for free-to-read content
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.
That 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 Friday, 22 November.
| FUEL | PRICE CHANGE |
| Petrol 93 | decrease of 9 cents |
| Petrol 95 | increase of 2 cents |
| Diesel 0.05% | increase of 47 cents |
| Diesel 0.005% | increase of 47 cents |
| Illuminating Paraffin | increase of 43 cents |
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 nine cents is expected for petrol 93 octane motorists and an increase of two cents for 95 users.
Meanwhile, diesel motorists would see something around a 47 cents per litre increase.
Finally, illuminating paraffin is expected to increase by 43 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 $74.67 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R18.02/$.
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):
| INLAND | November |
| Petrol 93 | R20.98 |
| Petrol 95 | R21.30 |
| Diesel 0.05% | R18.66 |
| Diesel 0.005% | R18.77 |
| Illuminating Paraffin | R12.87 |
| COASTAL | November |
| Petrol 93 | R20.19 |
| Petrol 95 | R20.51 |
| Diesel 0.05% | R17.87 |
| Diesel 0.005% | R18.01 |
| Illuminating Paraffin | R11.87 |
