Good news seems to be on the horizon for motorists in South Africa, whether you’re driving a petrol or diesel vehicle.
According to the latest data, fuel prices are expected to decrease next week, offering some relief for vehicle owners.
How Fuel Prices Have Shifted Recently
Earlier this month, South Africans saw a small but noticeable drop in the cost of both petrol and diesel.
The decrease came at a time when the rand was performing better against the US dollar, adding to the positive outlook. However, that’s not the only factor at play.
International issues, particularly US President Donald Trump’s tariff policies, continue to stir concerns about a prolonged global trade war.
These concerns have led to fears of slowed economic growth and higher inflation, which usually impacts fuel prices.
But in a twist of fate, the price of brent crude oil has fallen, bringing some good news for drivers.
Projections for Petrol and Diesel Prices
Based on the latest projections from the Central Energy Fund (CEF), South African motorists can expect the following changes to fuel prices starting on Monday, 24 March 2025:
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Petrol 93: A decrease of 72 cents per litre
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Petrol 95: A decrease of 85 cents per litre
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Diesel 0.05%: A decrease of 93 cents per litre
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Diesel 0.005%: A decrease of 95 cents per litre
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Illuminating Paraffin: A decrease of 88 cents per litre
These changes come as a result of the improving rand/dollar exchange rate and the falling crude oil prices.
If these trends continue for the rest of the month, these reductions should hold, though fluctuations in the exchange rate and oil price can impact the final numbers.
What Are the Key Factors Affecting Fuel Prices?
Fuel prices in South Africa are influenced by two primary factors:
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The International Price of Oil: Oil prices have a direct impact on the cost of petrol and diesel.
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The Rand/Dollar Exchange Rate: Since South Africa imports petroleum products, the strength of the rand against the US dollar plays a significant role in determining prices.
Currently, brent crude oil is priced at $73.15 per barrel, and the rand is trading at R18.24 to the US dollar.
These factors, along with others, will shape the final fuel prices for the month of April.
Final Price Changes Coming Soon
The final price changes for petrol and diesel will be confirmed early next month.
The new prices are set to take effect at midnight on Tuesday, 1 April 2025.
So, until then, drivers in South Africa can expect some relief, but it’s always wise to keep an eye on the fluctuations.
Current Fuel Prices in March 2025
For those curious about the current fuel prices, here’s a quick breakdown for inland and coastal areas in South Africa:
Inland (March 2025)
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Petrol 93: R22.09
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Petrol 95: R22.34
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Diesel 0.05%: R20.16
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Diesel 0.005%: R20.21
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Illuminating Paraffin: R14.17
Coastal (March 2025)
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Petrol 93: R21.30
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Petrol 95: R21.55
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Diesel 0.05%: R19.37
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Diesel 0.005%: R19.45
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Illuminating Paraffin: R13.17
Keep an Eye on Fuel Prices
While these decreases bring some welcome relief, it’s important for South African motorists to stay informed.
The ever-changing dynamics of oil prices and currency exchange rates mean that fuel prices can fluctuate unexpectedly.