Petrol prices

South African fuel prices will be adjusted on Wednesday, 1 February 2023.

Mid-month data points to a smaller drop in prices for petrol and diesel in February due to rising international petroleum costs.

The CEF makes predictions based on the price of refined oil and the current US Dollar/Rand exchange.

If current market conditions persist to the end of the month, these are the fuel prices motorists can expect.

The reductions are a result of a stronger rand and a decrease in Brent oil prices.

Oil prices continue to drop, in response to fears of a global economic recession.

The rand is pushing at R17 to the dollar once again, with the rand trading R17.02 vs the dollar since 26 December 2022.

The expected drop in fuel prices comes amid falling oil prices and a strengthening rand.

The major driver behind the lower projected prices is a huge drop in the international product prices for petroleum, guided by global oil movements.

Diesel is expected to come down substantially , with the data indicating a drop of R1.66.

This comes as international oil prices ease around $85 a barrel and the rand strengthens to below R17 to the dollar.

Diesel prices increased by R1.43 a litre from last week Wednesday- and early indications are that further pain is expected in December.

The continued problems with railways have increased truck deliveries, increasing the local demand for diesel.

Based on the latest data,diesel prices are on track for a hike of R1.58 to R1.61 per litre.

Petrol is expected to decrease by between R1.14 and R1.24 a litre, while diesel is expected to increase by between 43c and 50c a litre.

Diesel will likely increase by 70 cents per litre, while the price of paraffin is expected to increase by around seven cents.

The Department of Energy published the latest fuel price with a price drop between 46 and 56 cents per litre for diesel.

Gauteng residents could pay at least R23 per litre compared to the current R25.42c per litre

Fuel prices are usually adjusted on the first Wednesday of the month and determined by the price of oil and rand/dollar exchange rate

The fuel prices are adjusted on first Wednesday of the month and determined by price of oil and rand-dollar exchange rate

Automobile Association says outlook for petrol looking good with a possibility of another decrease in September

The Department of Mineral Resources and energy announced the fuel price decrease for August

With the rand weakening there may be hope that the August fuel prices could come down, however, nothing is certain just yet.

Consumer price inflation has broken through the upper limit of the reserve bank's target range