Johannesburg - South Africans will pay slightly more for petrol from Wednesday, August 7, while those with diesel-powered vehicles will enjoy a small reprieve.
The Department of Energy recently announced that all grades of petrol will increase by 11 cents a litre, while diesel will decrease by 14 cents in the case of low-sulphur 50ppm and 13 c/l for 500ppm.
But what exactly will you be paying at the pumps from Wednesday?
The table below outlines the prices for the different grades of fuel, both inland and at the coast. It’s worth noting that as diesel is deregulated, the department only releases wholesale prices. We have however come up with estimates based on the forecourt prices at 10 different stations - interestingly, prices varied by over R1 a litre in cases, so it definitely pays to shop around for your diesel.
|Inland||Price per litre|
|Petrol: 93 Unleaded||R15.72|
|Petrol: 95 Unleaded||R15.92|
|Diesel: 50ppm (wholesale)||R14.37|
|Diesel: 50ppm (forecourt estimate)||R15.95|
|Coast||Price per litre|
|Petrol: 95 Unleaded||R15.28|
|Diesel: 50ppm (wholesale)||R13.93|
|Diesel: 50ppm (forecourt estimate)||R15.51|
Fuel still historically expensive
South Africa’s petrol prices are currently just over a rand less than the all-time high recorded in October last year.
Although South African fuel prices dropped significantly towards the end of 2018, from R16.49 in October (for 95 Unleaded at the coast) to a more palatable R13.43 in January, prices have slowly crept up since then, to the current level of R15.28, and fuel taxes show no sign of abating either, rising by 30 cents in 2019.
Possible bad news for September
The rand and international oil prices largely cancelled each other out for August's price equation, according to data from the Department of Energy. During the month of July, upon which August prices are based, the rand appreciated from an average of R14.62 the previous month, to R14.05. However, the average Brent Crude oil price increased from $63.60 to $64.10, with diesel prices being slightly lower overall.
Although it is too early to predict September’s fuel prices, the roles seem reversed so far, with the rand having plunged to R14.82 at the time of writing. The oil price is also down, currently hovering around the $60 mark, but that might not be enough to offset the weak rand, and if current trends persist, we could see a petrol price hike of around 20 c/l in September, according to the latest daily prices released by the Central Energy Fund.