Fuel price LATEST: Big drop in diesel ahead of Christmas
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Indications are that there will be a slight petrol price hike in early December, but the news on the diesel front is excellent!
While it is still too early to accurately predict what lies ahead next week for petrol and diesel prices, the latest data available from the Central Energy Fund – as of 25 November – shows contrasting signs.
Fluctuations in international product prices and rand weakness show the following under-recoveries (price increases) for petrol and over-recoveries (price decreases) for diesel:
Fuel Price change
Petrol 93 increase of 38 cents per litre
Petrol 95 increase of 49 cents per litre
Diesel 0.05% decrease of 136 cents per litre
Diesel 0.005% decrease of 129 cents per litre
Illuminating Paraffin (wholesale) decrease of 31 cents per litre
If these market conditions persist for the next week or so, a hike is on the cards for December for petrol users of between 38 to 49 cents, while diesel motorists can expert a 129 to 136 cents per litre decrease.
FUEL PRICE IN MZANSI 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
Exchange rate
At the time of publishing the rand/dollar exchange rate is R17.12/$.
Oil price
Global oil prices have remained below $100 a barrel in recent months, but have climbed from a low point of around $83 a barrel at the start of the October.
At the time of publishing the brent crude oil price is $81.35 a barrel.
The final overall price changes for both petrol and diesel will be confirmed in the coming weeks with the new prices coming into effect at midnight on Tuesday, 6 December.
The current prices at the pumps (Inland and Coastal):
INLAND October November
93 Petrol R22.06 R22.57
95 Petrol R22.36 R22.87
0.05% diesel (wholesale) R24.06 R25.49
0.005% diesel (wholesale) R24.31 R25.75
Illuminating Paraffin R16.99 R17.76
LPGAS (p/kg) R34.07 R33.09
COASTAL October November
93 Petrol R21.41 R21.92
95 Petrol R21.71 R22.22
0.05% diesel (wholesale) R23.41 R24.84
0.005% diesel (wholesale) R23.67 R25.11
Illuminating Paraffin R16.20 R16.97
LPGAS (p/kg) R31.66 R30.68
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