In just two weeks, the new petrol and diesel prices for July 2023 will take effect. According to the latest numbers from the Central Energy Fund (CEF), petrol drivers may fare better than diesel car owners.
|decrease of 15 cents
|decrease of 6 cents
|increase of 15 cents
|increase of 10 cents
|decrease of 4 cents
Latest Projections from the CEF
The latest projections received by news reporters from the CEF, effective Tuesday, 20 June 2023, indicate that if market conditions remain consistent for the remainder of the month – which is unlikely due to fluctuations in the rand/dollar exchange rate and changes in oil prices – petrol 93 octane motorists can expect a decrease of 15 cents while 95 users can expect a decrease of 6 cents. On the other hand, diesel motorists may see an increase of between 10 and 15 cents per litre.
Illuminating paraffin is also expected to decrease by 4 cents.
Factors Impacting Fuel Price in South Africa
The fuel price in South Africa is impacted by two main factors:
- The international price of petroleum products, which is mainly driven by oil prices
- The rand/dollar exchange rate used in the purchase of these products
At the time of publishing, the brent crude oil price is $76.02 a barrel.
At the time of publishing, the rand/dollar exchange rate is R18.42/$.
Final Price Changes
The final overall price changes for both petrol and diesel will be confirmed in the weeks ahead with the new prices coming into effect at midnight on Tuesday, 4 July.