South African motorists must once again dig deeper into their pockets as both petrol and diesel prices increased at midnight on Tuesday, 3 December 2024. It was the second consecutive month of price increases after five months of decreases. The increase was mainly because of the rand depreciating against the dollar and also the price of oil continuing to rise due to ongoing unrest in the Middle East. Here is a look at the petrol price fluctuations in 2024.
Unleaded petrol
| Date | Petrol unleaded 93: Inland | Petrol unleaded 93: Coastal | Petrol unleaded 95: Inland | Petrol unleaded 95: Coastal |
| January | 22,17 | 21,45 | 22,49 | 21,77 |
| February | 22,92 | 22,20 | 23,24 | 22,52 |
| March | 24,13 | 23,41 | 24,45 | 23,73 |
| April | 24,78 | 23,99 | 25,12 | 24,33 |
| May | 25,15 | 24,36 | 25,49 | 24,70 |
| June | 23,91 | 23,12 | 24,25 | 23,46 |
| July | 22,86 | 22,07 | 23,26 | 22,47 |
| August | 22,71 | 21,92 | 23,11 | 22,32 |
| September | 21,79 | 21,00 | 22,19 | 21,40 |
| October | 20,73 | 19,94 | 21,05 | 20,26 |
| November | 20,98 | 20,19 | 21,30 | 20,51 |
| December | 21,15 | 20,36 | 21,47 | 20,68 |
Petrol LRP
| Date | Price: Inland | Price: Coastal |
| January | 22,17 | 21,45 |
| February | 22,92 | 22,20 |
| March | 24,13 | 23,41 |
| April | 24,78 | 23,99 |
| May | 25,15 | 24,36 |
| June | 23,91 | 23,12 |
| July | 22,86 | 22,07 |
| August | 22,71 | 21,92 |
| September | 21,79 | 21,00 |
| October | 20,73 | 19,94 |
| November | 20,98 | 20,19 |
| December | 21,15 | 20,36 |
All prices are per litre and the data is from the Automobile Association South Africa.
What factors influence South Africa’s fuel prices?
The government determines the Basic Fuels Price by taking into consideration the actual costs of importing a large part of South Africa’s liquid fuels. Fuels are usually brought in from foreign refineries that can provide the quality and consistent supply that South Africa needs, according to the Department of Mineral Resources.
The price of petrol in US dollars at refining centres in the Mediterranean area, the Arab Gulf, and Singapore directly influence the petrol price in South Africa. International crude oil prices, international supply and demand balances for petroleum products, and the exchange rate between the rand and the US dollar all influence local fuel prices.
Local aspects that influence the prices of fuel include inland transport costs, wholesale margin, and retail profit margin.
Do you fill up your car’s tank just before there is an increase?
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