Mid-month data released by the Central Energy Fund in January predicted a slight bit of relief for petrol motorists come February, but further tightening of the belt for both diesel motorists and users of illuminating paraffin.
This was largely due to an over-recovery of around 8c per litre on 95-grade petrol, and an under-recovery of around 12c per litre on both 0.05% and 0.005% diesel, with 93-grade petrol remaining flat, at a chance of a slight increase (around 1c per litre).
Considering all the factors at play (such as the rand's unspectacular showing against the US dollar, the ongoing trade discussions between the US and China, and the detrimental effects of Eskom's load-shedding on the economy), mid-month estimates were always subject to change.
Thankfully, things are looking up, and the Department of Energy has stated that both grades of petrol, as well as both grades of diesel, are scheduled to decrease in price this week.
Let's take a look at the changes.
Scheduled to come into effect from Wednesday 5 February, here’s what the new fuel prices will look like:
Thanks to an appreciation of the rand against the US dollar and an average decrease in international petrol prices during the period under review, the Department of Energy has said that both 93 and 95-grade petrol will decrease by 13c per litre, and both 0.05% and 0.005% sulphur grades of Diesel will decrease by 5c per litre.
Likewise, the price of illuminating paraffin will decrease by 4c per litre.
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