Brace yourselves – petrol and diesel prices likely going up this December

Next Wednesday, 4 December, the Department of Mineral Resources and Energy (DMRE) will adjust South Africa’s petrol and diesel pumps nationwide with new prices that will have some drivers jumping for joy while others… Well, we’ll let you find out for yourself which camp you fall into.

The Central Energy Fund (CEF), a state-owned energy group reporting to the DMRE, has published yet another predictive daily snapshot (captured 25 November), offering South Africans the most accurate glimpse of how their wallets and daily commutes will be affected come December.

We wish we had better news for you

With just over a week to go before the DMRE announces the impending changes, the current trend points towards increases for both grades of diesel, while buyers of 93LRP may feel a (slight) reprieve. That may not be the case forever, however. The CEF keeps track of the economic factors that can alter the country’s fuel prices, such as the current Rand/US Dollar exchange rate and the price of unrefined oil globally.

In this case, a slowly weakening Rand and ever-increasing prices of oil globally are to blame for the unsettling figures down below. Should the Rand miraculously find a way to strengthen, or the price of oil drop in the coming days, it could be good news for motorists. Unfortunately, the likelihood of this happening is unlikely. We’d advise heading to the nearest garage ahead of Wednesday, 4 December.

It’s worth reminding readers that the CEF’s figures (below) are not set in stone. Only the DMRE has the official say on the incoming adjustments. The CEF simply paints the most accurate picture of the coming changes to help South Africans prepare for the coming calamity.