It’s that time of the month week again. Time to delve into the Central Energy Fund’s (CEF) latest data dump to glean what we can about the country’s expected petrol and diesel price changes in the first week of the New Year. Anybody who’s been paying attention should already have a rough idea of what’s coming — and know that we come bearing good tidings, with the new forecasts predicting a R1+ drop for diesel drivers at the least.
Diesel on your mind?
You might be thinking that another price drop is just too good to be true. After an already rare two-month price drop streak, we don’t blame you. We thought the Department of Mineral Resources and Energy would definitely be out for blood more money.
Still, it’s probably a good idea to somewhat tamper those expectations. The data we’re discussing comes from the CEF’s mouth — and doesn’t have any official control over what goes on at the country’s pumps at the beginning of a new month. It looks at any pertinent data — specifically the current price of refined oil and the Rand/US Dollar exchange — to arrive at the figures below.
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Fortunately, that’s all the same data that the Department of Mineral Resources and Energy — the pump’s true decider — looks at before making its final decision at the end of each month. The CEF’s figures below won’t be entirely accurate, but they’re as close as we’re going to get. That’s if Eskom can hold up its end of the ‘no load shedding’ bargain.
Here are the fuel price predictions (so far) for January 2024:
- Petrol 93: decrease of 49 cents per litre (R0.49)
- Petrol 95: decrease of 95 cents per litre (R0.95)
- Diesel 0.05%: decrease of 111 cents per litre (R1.11)
- Diesel 0.005%: decrease of 119 cents per litre (R1.19)
- Illuminating Paraffin: decrease of 112 cents per litre (R1.12)