What’s the point of having cheaper fuel if there’s nowhere to go because of load shedding? Besides diesel-generator owners, the country is stuck. We drive to work, and drive back, constantly awaiting the sudden plunge into darkness that we fail to escape for the next four hours.
But let’s forget all that, and appreciate the prices of fuel that (may) be coming down in price next February. This marks the second fuel drop since the beginning of the year, according to the latest mid-month data from the Central Energy Fund (CEF).
CEF’s data indicates a slight drop in both petrol and diesel in February 2023. Petrol prices are expected to drop by up to 25c per litre and diesel is set to drop by between 50c and 60c per litre. Now that’s what we call love! Right on time for us to drive around with our loved ones celebrating valentine’s day under candlelight (not necessarily out of choice).
This is what you can expect at the pumps next month:
- Petrol 95: decrease of 25 cents per litre (R0.25)
- Petrol 93: decrease of 18 cents per litre (R0.18)
- Diesel 0.05%: decrease of 50 cents per litre (R0.50)
- Diesel 0.005%: decrease of 63 cents per litre (R0.63)
- Illuminating Paraffin: decrease of 46 cents per litre (R0.46)
Read More: Petrol and diesel costs drop at midnight: Here are South Africa’s January fuel prices
Don’t get too excited. The Department of Energy says the snapshot, as of 13 January 2023, does not necessarily mean things will stay the same by February – when we’ll get the actual data. The data provided is more of a prediction. Factors, including slate levy adjustments and retail margin changes, are variables determined by the DoE at the end of the month, and these can still affect pricing.
The international price of petroleum which is driven by oil prices and the rand/dollar exchange rate all have an impact on pricing as well.
Here’s to love and cheap fuel in February (we hope). We won’t even bring up load shedding again (ok, you got us there), and we might as well prepare hose candles or paraffin lamps. At least paraffin will be cheaper – for now at least.
Source: Central Energy Fund