In a positive development for South African motorists, petrol prices are expected to decrease for the second consecutive month, according to unaudited data from the Central Energy Fund (CEF). However, the latest data suggests that diesel prices are set to increase. See the details below!

South African motorists will be happy to know that the petrol price is set to decrease in July 2023 while diesel prices are set to rise, according to the latest unaudited data from the CEF. Official adjustments will be effective from next Wednesday, 5th July 2023.

The Automobile Association of South Africa (AA) commented, “The breakdown of the data shows that the average exchange rate used in the basic fuel price decreased over June from around R19.50 to the US Dollar to around R18.80 to the USD, which accounts for most of the petrol price decrease. However, the movement in international oil prices is impacting negatively on diesel, contributing significantly to its expected increase,”

While motorists will benefit from a reduction in the petrol price, diesel price increases will negatively impact various sectors.

“A decrease to the price of petrol is naturally welcome news, and will provide some relief to embattled consumers. The increase to diesel, though, means input costs in, amongst other sectors, the agricultural and manufacturing sectors, are also likely to increase which may result in higher prices for consumers”

The data suggests that the price of 93 and 95 grade petrol will derease by 24c/l and 17c/l respecitively while the price of diesel 0.05% and diesel 005% will increase by approximately 18c/l and 12 c/litre respectively.

Fuel Price Forecast for July 2023 in South Africa

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