We’re nearly halfway through December (already?), which means the Central Energy Fund (CEF) has begun predictions for the new year’s fuel prices. This is the part where we’d usually tell you to fill up your car before the prices change on the first Wednesday of 2023 (4 January, in this case).
But if the CEF’s predictions are accurate, you’re better off filling up after the New Year. That’s because we could be looking at the biggest fuel price drop of the past twelve months. Both petrol and diesel are looking at substantial decreases, with diesel finally getting the better part of the deal.
Disclaimer: these are just predictions and won’t be the number that reflects at the petrol pumps come the New Year. But where the CEF is concerned, its predictions are never far off.
That’s because the CEF makes its predictions based on the latest US/Rand exchange and the current price of refined oil. The Department of Energy – deciders of the true petrol price – makes its decisions based on similar factors.
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Holding thumbs
Without further ado, here are the expected petrol and diesel prices for January 2023;
- Petrol 95: decrease of 194 cents per litre (R1.94)
- Petrol 93: decrease of 197 cents per litre (R1.97)
- Diesel 0.05%: decrease of 328 cents per litre (R3.28)
- Diesel 0.005%: decrease of 337 cents per litre (R3.77)
- Illuminating Paraffin: decrease of 251 cents per litre (R2.51)
We’ll be praying that these don’t change too much over the course of December. We know Eskom will be.
Source: Central Energy Fund