Fuel price projection takes a turn for the WORSE for January 2025

The latest data suggests that South Africa's motorists will be in for bad fuel price news early in 2025. Here are the figures ...

Dec 23, 2024 - 03:00

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Fuel price projection takes a turn for the WORSE for January 2025

The latest data suggests that South Africa’s motorists will be in for bad fuel price news early in 2025.

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.

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.

In recent days the rand has weakened further against the dollar, suggesting that South Africa’s motorists will be greeted by bad news early in the New Year.

Below, the latest projections as received by The South African website from the Central Energy Fund (CEF), effective Friday, 20 December.

FUEL	PRICE CHANGE
Petrol 93	increase of 14 cents
Petrol 95	increase of 7 cents
Diesel 0.05%	increase of 2 cent
Diesel 0.005%	increase of 5 cents
Illuminating Paraffin	decrease of 11 cents

If the market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate fluctuating and the oil price ever changing – an increase of 14 cents is expected for petrol 93 octane motorists and an increase of seven cents for 95 users.

Meanwhile, diesel motorists would see something between a two and five cents per litre increase.

Finally, illuminating paraffin is expected to decrease by 11 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 $73.27 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R18.30/$.

The final overall price changes for both petrol and diesel will be confirmed early next week with the new prices taking effect at midnight on Tuesday, 7 January 2025.

Go easy on the accelerator until then, Mzansi.