Recall that last week saw considerable decreases in the price of gasoline and diesel, which was good news for motorists in Mzansi.
For 93 and 95 octane gasoline, the price fell by R2.06 per litre, while for 0.05% and 0.005% diesel, the prices fell by R2.69 and R2.81, respectively.
According to data as of 9 January 2023, fluctuations in the price of goods internationally and the weakening of the rand resulted in the following over-recoveries (price drops) for gasoline and diesel:
|Petrol 93||decrease of 57 cents per litre|
|Petrol 95||decrease of 64 cents per litre|
|Diesel 0.05%||decrease of 104 cents per litre|
|Diesel 0.005%||decrease of 118 cents per litre|
|Illuminating Paraffin (wholesale)||decrease of 86 cents per litre|
If these market conditions persist for the remainder of January, another decrease is on the cards for February for both petrol and diesel users of between 57 to 64 cents for petrol, while diesel motorists could see a 104 to 118 cents per litre drop.
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
At the time of publishing the rand/dollar exchange rate is R16.97/$.
With the new pricing taking effect at midnight on Tuesday, January 7, the final overall price increases for both gasoline and diesel will be announced in the next weeks.
The current prices at the pumps (Inland and Coastal):
|0.05% diesel (wholesale)||R21.23|
|0.005% diesel (wholesale)||R21.42|
|0.05% diesel (wholesale)||R20.58|
|0.005% diesel (wholesale)||R20.78|
»It’s GOOD news for now,Petrol and diesel price watch for February«