Fuel price LATEST: Forecast remains dire for petrol, diesel in October

The early petrol and diesel projections from the Central Energy Fund (CEF) paint a grim picture for October 2023 for South Africa’s motorists.

Note: This is an updated article with the latest petrol and diesel projections

WATCH | Clifton 4th Beach LIVE webcam

This news comes on the back of massive price hikes for both petrol and diesel earlier this month, as reported by The South African website.

ALSO READ | SASSA: What are the EIGHT payment grants South Africans can apply for?

The reason for the increase is due to both Russia and Saudi Arabia cutting production recently and extending that decision until the end of 2023. As a result the dollar has strengthened against the rand.

Below, the latest projections as received by The South African website from the CEF, effective Friday, 15 September 2023.

MUST KNOW | Tick-Tock: What happens if you MISS the 2023 tax return deadline?

FUEL	PRICE CHANGE
Petrol 93	increase of 116 cents
Petrol 95	increase of 123 cents
Diesel 0.05%	increase of 202 cents
Diesel 0.005%	increase of 193 cents
Illuminating Paraffin	increase of 185 cents

If these market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate ever fluctuating and the oil price changing – an increase of 116 cents is expected for petrol 93 octane motorists and an increase of 123 cents for 95 users.

MUST READ | Which of South Africa’s 9 provinces is the LARGEST by population size?

Meanwhile, diesel motorists would see something around a 193 to 202 cents per litre increase.

Finally, illuminating paraffin is expected to increase by 185 cents.

MUST READ | Does leaving appliances plugged in use power?

REMEMBER THIS? | Skukuza Golf Club makes headlines as lions take down giraffe

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 $94.34 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R19.04/$.

ALSO READ: 5 ways to renew your vehicle license online

---

ALSO READ | Here’s why millions of prepaid electricity meters could stop working

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, 3 October.

SEE | Kruger Park: Ranger shares picture of black mambas killed by car – LOOK

Go easy on the accelerator until then, Mzansi.

---

OOPS! | Tattoo FAILS: Daily hilarious ink disasters

The current SEPTEMBER 2023 petrol and diesel prices (Inland and Coastal):

INLAND	September
Petrol 93	R24.14
Petrol 95	R24.54
Diesel 0.05%	R23.05
Diesel 0.005%	R23.28
Illuminating Paraffin	R17.41

COASTAL	September
Petrol 93	R23.42
Petrol 95	R23.82
Diesel 0.05%	R22.32
Diesel 0.005%	R22.57
Illuminating Paraffin	R16.49

LAUGH OUT LOUD | JOKE OF THE DAY