Fuel Price Decrease Predicted for June 2023

Mid-month fuel price data from the Department of Energy suggests South Africa could be in for a major fuel price decrease in June 2023.

Somehow amidst all the complications South Africa finds itself in, there appears to be a spot of good news on the horizon. Mid-month fuel price data suggest the local fuel price could drop by over R1 per litre if things track consistently towards the end of the month.

While the local exchange rate has seen the Rand depreciate against the dollar from R18.40 at the beginning of the month to R19.01 at the midpoint of May 2023, the price of Brent Crude has been on the decline. At the end of April, Brent Crude oil was trading above $80 per gallon but has since come down to below $75 per gallon. This equates to a reduction in the price of petrol coming down by R1.13 per litre for 95 octane, R1.11 for 93 octane and diesel by R1.27 per litre for 50ppm and R1.36 for 500ppm.

Mid-month data is only a projection of what is to come with confirmed pricing being available in the last week of May. Here’s a nifty table of the projected fuel price for June 2023.

Fuel price projection June 2023

Fuel Type	May 23 Inland	May 23 Coast	June 23 (Projected) Inland	June 23 (projected) Coast
Petrol Unleaded 93	R23.20	R22.48	R22.09	R21.37
Petrol Unleaded 95	R23.49	R22.77	R22.36	R21.64
Diesel 0.05% (wholesale)	R20.31	R19.59	R18.95	R18.23
Diesel 0.005% (wholesale)	R20.66	R19.95	R19.39	R18.68