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Mixed Fuel Outlook for July Petrol and Diesel Prices

Published

11 months ago

June 20, 2023

After significant decreases in June, motorists should anticipate smaller adjustments in fuel prices for the upcoming month.

According to the latest unaudited data from the Central Energy Fund, petrol prices are projected to experience a slight decrease, while diesel prices are likely to rise as reported by IOL.

As it stands, it is anticipated that 93 Unleaded petrol will see a decrease of approximately 15 cents per litre, and 95 Unleaded may see a decrease of around 7 cents per litre in July.

However, it is important to note that these figures are subject to change in the next ten days. The minor decrease could potentially turn into a slight increase, but significant fluctuations in petrol prices are unlikely.

On the other hand, diesel prices are expected to increase by approximately 15 cents per litre for 500ppm. However, recent daily data suggests an even larger under-recovery, which could push the figure closer to 30 cents per litre or higher by the end of the month if current trends persist.

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While international oil prices have slightly risen this month, with Brent Crude oil trading at just over $76, the appreciation of the rand against the US dollar has provided some relief. When writing, the rand was listed at R18.15, compared to an average of R18.98 last month.

Currently, 95 Unleaded petrol retails at R21.91 at the coast and R22.63 inland, while the cheaper 93 Unleaded costs R22.30 in inland regions. In January, a litre of 95 Unleaded petrol cost R20.75 at the coast.

The wholesale price of 50ppm diesel currently stands at R18.99 at the coast, down from R20.78 in January. This is positive news for general inflation, as many industries rely on diesel for transportation. The predicted increase in July is unlikely to significantly impact this situation.

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