Motorists can anticipate relief during the upcoming festive season as data from the Central Energy Fund (CEF) indicates a substantial decrease in diesel prices.
Fuel Price Decline
The latest data from the CEF points to an expected drop ranging from R2.08 to R2.14 per liter of diesel in December. Additionally, a decrease of around R1.05 per liter is anticipated for petrol.
While the retail price of diesel may vary, the current overall price stands at R23.69 for 50ppm in coastal provinces and slightly higher inland at R23.69.
Summary of Expected Price Changes:
- Petrol 93: Decrease of 105 cents per liter
- Petrol 95: Decrease of 107 cents per liter
- Diesel 0.05% (wholesale): Decrease of 209 cents per liter
- Diesel 0.005% (wholesale): Decrease of 214 cents per liter
- Illuminating paraffin: Decrease of 175 cents per liter
Department of Energy to Make Final Decision
If the CEF’s predictions hold true, the fuel prices (both petrol and diesel) are expected to drop below R22 for the first time since July.
Diesel experienced an increase of R5.40 in the three months between August and October, as reported by The Citizen. Despite the CEF’s daily assessment of the over-recovery and under-recovery of the basic fuel price, the Department of Mineral Resources and Energy is set to make the final decision on the fuel prices. An official announcement is expected to be made on 2 December.