The fuel price outlook for March is a mixed bag.
Image: File picture
KIMBERLEY – Buckle up, Northern Cape! It’s that time of the month when we play our favourite national game: Guess the Fuel Price! And while March’s figures might not have us dancing in the streets, at least we’re not bracing for another gut punch at the pumps.
According to the latest month-end data from the Central Energy Fund (CEF), petrol and diesel prices are giving us a bit of a mixed bag. For those filling up with 95 Unleaded, expect a tiny 7-cent reprieve (hey, every cent counts, right?), while 93 Unleaded is creeping up by the same amount. Diesel drivers, you get a bit more love - prices are expected to drop by between 17 (500ppm) and 22 cents (50ppm) per litre, depending on the grade.
The Fuel Price Shuffle: A Little Up, A Little Down!
So, What Will It Cost You?
If the projections hold (and let’s be real, that’s always a gamble), you’re looking at paying around R21.55 per litre for 95 ULP at the coast and R22.34 inland. Meanwhile, 93 ULP is expected to cost around R22.23 per litre inland. The wholesale price of 50ppm diesel is expected to settle at around R19.47 per litre at the coast and R20.23 inland - because even diesel likes to keep things a little unpredictable.
But before you start celebrating your huge 7-cent saving (try not to spend it all in one place), remember these are still estimates. The Department of Mineral Resources and Energy will confirm the final prices early this week, and they might throw in a curveball or two, like adjustments to the Slate Levy. The official price changes take effect on Wednesday, March 5.
How Did We Get Here?
Well, it’s a mix of global drama and local currency moods. Petrol prices got hit by higher international costs, but the rand, in a rare show of strength, actually helped offset some of the damage, softening the blow by around 14 cents. Meanwhile, Brent crude oil took us on a roller-coaster, peaking at $77 (R1,435) per barrel on February 11 before taking a nosedive to $72 last week. Blame it on lower demand in the US, rising stockpiles, and whispers of a possible peace deal between Ukraine and Russia (which could shake up the whole Russian oil sanctions situation).
A Look Back: Recent Fuel Price Trends
In case you were wondering how we got here (aside from what feels like cosmic payback for past transgressions), petrol has been climbing steadily:
So yeah, a 7-cent decrease might not sound like much (because it isn’t), but after months of price hikes, we’ll take any win we can get - no matter how microscopic.
Happy filling, Northern Cape! Or as happy as one can be watching money vanish into a fuel tank.
* This article is based on reporting by Jason Woosey.
Related Topics: