Last week, South Africa got one of the best belated Christmas presents we could ever ask for: A R2 drop in petrol prices and an even better R2.70 drop for diesel drivers. If you’re only heading back onto the roads today after a long month of Christmas dinners and countless braais, then you should probably fill up.
If, for some reason, you’re extending your holiday all the way into February, filling up a little later might be a safer bet. Why? Well, the Central Energy Fund (CEF) is predicting yet another drop in petrol and diesel prices. It won’t be as grand as January’s drop, but we’ll take what we can get.
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Good (petrol) news everyone!
Prices are set to change at midnight on 1 February, the first Wednesday of the month. As usual, we warn you to take these predictions with a grain of salt – because that’s exactly what they are – predictions. The CEF makes its predictions based on the price of refined oil and the current US Dollar/Rand exchange. The Department of Energy decides the true prices that’ll reflect at the petrol pumps, once it’s taken all mitigating factors into account.
Without further ado, here are the expected petrol and diesel prices for February 2023 (data captured on 6 January 2023):
- Petrol 95: decrease of 74 cents per litre (R0.74)
- Petrol 93: decrease of 68 cents per litre (R0.68)
- Diesel 0.05%: decrease of 121 cents per litre (R1.21)
- Diesel 0.005%: decrease of 135 cents per litre (R1.35)
- Illuminating Paraffin: decrease of 97 cents per litre (R0.97)
As any South African will know, it doesn’t take much for the country to massively screw up. Should that happen, the drop won’t be as great as it looks here.
Still, it doesn’t hurt to get a bit excited about a possible drop, right?
Source: Central Energy Fund
