South Africa Petrol Price Cut Expected in December 2024 Amid Diesel Increase

South Africa‘s Fuel Price Update: December 2024

South Africa’s motorists can expect a petrol price cut in early December 2024, while diesel prices are likely to increase. Recent data indicates that petrol prices, which had risen earlier this month, will decrease again. This fluctuation ended a series of five consecutive months of price drops.

The increase earlier in November was due to the rand’s decline against the dollar and rising oil prices, attributed to ongoing unrest in the Middle East.

Projected Fuel Price Changes:

Effective from Friday, 15 November:

Petrol 93: decrease of 16 cents
Petrol 95: decrease of 4 cents
Diesel 0.05%: increase of 39 cents
Diesel 0.005%: increase of 38 cents
Illuminating Paraffin: increase of 39 cents

If current market conditions remain unchanged—though fluctuations in the rand/dollar exchange rate and oil prices are expected—petrol prices are set to decrease, while diesel prices will see increases.

Key Influencing Factors:

International Oil Prices: Global oil prices heavily influence fuel costs.
Rand/Dollar Exchange Rate: This rate impacts purchasing power for imported fuel.

Current Brent Crude Oil Price: $71.44 per barrel

Current Rand/Dollar Exchange Rate: R18.09/$

Final fuel prices will be confirmed in the coming weeks, with new prices taking effect at midnight on Tuesday, 3 December.

Current Fuel Prices (November 2024)

Inland Prices:

Petrol 93: R20.98
Petrol 95: R21.30
Diesel 0.05%: R18.66
Diesel 0.005%: R18.77
Illuminating Paraffin: R12.87

Coastal Prices:

Petrol 93: R20.19
Petrol 95: R20.51
Diesel 0.05%: R17.87
Diesel 0.005%: R18.01
Illuminating Paraffin: R11.87

Stay informed on fuel prices and drive carefully until the changes take effect.