{"id":458500,"date":"2020-12-30T12:49:35","date_gmt":"2020-12-30T10:49:35","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=458500"},"modified":"2020-12-30T13:20:11","modified_gmt":"2020-12-30T11:20:11","slug":"expect-higher-petrol-and-diesel-prices-next-week","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/energy\/458500\/expect-higher-petrol-and-diesel-prices-next-week\/","title":{"rendered":"Expect higher petrol and diesel prices next week"},"content":{"rendered":"<p>Fuel prices are expected to significantly increase in January, month-end data from the <a href=\"https:\/\/www.cefgroup.co.za\/phocadownload\/Daily_updates\/2020\/December\/Daily%2029-12-2020.pdf\">Central Energy Fund<\/a> shows.<\/p>\n<p>The data shows that petrol prices could increase by 39 and 43 cents per litre, while diesel prices could be up by between 54 and 55 cents per litre.<\/p>\n<p>According to the Automobile Association (AA) the price increases are largely being driven by rising oil prices, with the rand&#8217;s strength against the dollar not enough to counter its effect.<\/p>\n<p>&#8220;The rand has continued to advance against the US dollar, which is a pleasing outcome considering the severe beating the currency took earlier in the year. But even the currency&#8217;s ongoing strength has not been enough to contain oil&#8217;s march back towards its pre-Covid-19 price levels,&#8221; it said.<\/p>\n<p>The rand&#8217;s daily exchange rate dipped near R14.50 to the US dollar during December, with the average exchange rate hovering near R15.00. However there has been a near 13% increase in international petroleum product prices over the same period.<\/p>\n<p>International oil prices have stabilised over the past few days, but the AA said it is too early to tell whether this is a new plateau, or an expected pullback as trading activity declined over the Christmas weekend.<\/p>\n<p>&#8220;The trend up to December 17 was quite markedly upward, and if that picks up more steam in the new year, it won&#8217;t bode well for fuel prices in 2021,&#8221; it said.<\/p>\n<p>&#8220;While South African fuel prices are well off their record highs, the country&#8217;s economy is in a fragile state, and any shocks to international oil prices or the Rand\/US dollar exchange rate could hurt fuel users badly.&#8221;<\/p>\n<p>The Department of Energy will announce the official changes before they take effect on 6 January 2021.<\/p>\n<p>Here&#8217;s how the latest price estimates could reflect at the pumps.<\/p>\n<div class=\"bt_table\">\n<div class=\"table-responsive\"><table class=\"table\" width=\"100%\" cellspacing=\"0\" cellpadding=\"6\">\n<tbody>\n<tr>\n<th bgcolor=\"#CCCCCC\" width=\"40%\">Fuel (Inland)<\/th>\n<th style=\"text-align: center;\" bgcolor=\"#CCCCCC\" width=\"30%\"><a href=\"http:\/\/www.energy.gov.za\/files\/esources\/petroleum\/December2020\/Breakdown-of-Prices.pdf\">December Official<\/a><\/th>\n<th style=\"text-align: center;\" bgcolor=\"#CCCCCC\" width=\"30%\">January Expected<\/th>\n<\/tr>\n<tr>\n<td>95 Petrol<\/td>\n<td style=\"text-align: center;\">R14.46<\/td>\n<td style=\"text-align: center;\">R14.85<\/td>\n<\/tr>\n<tr>\n<td>93 Petrol<\/td>\n<td style=\"text-align: center;\">R14.26<\/td>\n<td style=\"text-align: center;\">R14.69<\/td>\n<\/tr>\n<tr>\n<td>0.05% Diesel (wholesale)<\/td>\n<td style=\"text-align: center;\">R12.45<\/td>\n<td style=\"text-align: center;\">R12.99<\/td>\n<\/tr>\n<tr>\n<td>0.005% Diesel (wholesale)<\/td>\n<td style=\"text-align: center;\">R12.47<\/td>\n<td style=\"text-align: center;\">R13.01<\/td>\n<\/tr>\n<tr>\n<td>Illuminating Paraffin<\/td>\n<td style=\"text-align: center;\">R6.84<\/td>\n<td style=\"text-align: center;\">R7.39<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/energy\/457258\/here-is-the-expected-petrol-price-for-january\/\" rel=\"bookmark\">Here is the expected petrol price for January 2021<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fuel prices are expected to significantly increase in January, month-end data from the Central Energy Fund shows.<\/p>\n","protected":false},"author":10,"featured_media":78155,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9874],"tags":[26],"class_list":["post-458500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/458500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=458500"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/458500\/revisions"}],"predecessor-version":[{"id":458506,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/458500\/revisions\/458506"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/78155"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=458500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=458500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=458500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}