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Petrol price falls BELOW R20/litre at the coast!

There was reason for some early morning cheer on Monday when South Africa’s motorists read the news that petrol and diesel prices for October were set to fall dramatically.

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As per the Central Energy Fund (CEF), these will be the fuel price changes effective from midnight on Tuesday, 1 October.

Go easy on the accelerator until then!

FUEL PRICE CHANGE
Petrol 93 decrease of 106 cents
Petrol 95 decrease of 114 cents
Diesel 0.05% decrease of 114 cents
Diesel 0.005% decrease of 112 cents
Illuminating Paraffin decrease of 111 cents

The price of petrol 93 at the coast will now cost R19.94 per litre (and R20.73 inland).

That represents a dramatic decrease since it hit its high this year of R24.36 on 1 May.

That represents a R4.42 drop in the last five months.

The last time petrol 93 cost under R20 / litre at the pumps was in February 2022.

And there could be even more good news in November!

Should the current stronger rand and low oil prices continue (as they have in recent weeks), further cuts could well be on the cards in early November.

FUEL PRICE IN SOUTH AFRICA IMPACTED BY TWO MAIN FACTORS:

1. The international price of petroleum products, driven mainly by oil prices

2. The rand/dollar exchange rate used in the purchase of these products


Oil price

At the time of publishing the brent crude oil price is $71.76 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R17.18/$.

Correct as at time of publishing


The NEW October 2024 petrol and diesel prices (Inland and Coastal):

INLAND October
Petrol 93 R20.73
Petrol 95 R21.05
Diesel 0.05% R18.45
Diesel 0.005% R18.57
Illuminating Paraffin R12.66
COASTAL October
Petrol 93 R19.94
Petrol 95 R20.26
Diesel 0.05% R17.66
Diesel 0.005% R17.81
Illuminating Paraffin R11.66

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