R111 petrol savings for South African drivers
The average South African motorist could be paying around R111 less per month for petrol from Wednesday, 2 October 2024, compared to what they spent on the same fuel in September.
The Central Energy Fund (CEF) recently published the official adjustments for the retail prices of petrol and wholesale prices of diesel and illuminating paraffin for October.
All three types of fuels will see a decline of more than R1 per litre (ℓ), providing significant relief not only to motorists but also to those who rely on paraffin for lighting and heating.
The most commonly available petrol in South Africa — unleaded 95 — will see its retail price drop from R22.19 to R21.05 per litre, a decline of R1.14.
The retail price of unleaded 93 petrol, which is primarily available at inland fuel stations and suited for less powerful vehicles, will drop from R21.79 to R20.73 per litre.
The decline in wholesale 50ppm diesel prices will also result in this fuel’s retail price dropping, but the actual difference at the pumps will vary based on the retail margin that a station operator adds to the wholesale price.
The drop in diesel prices should also help curb food and goods inflation, as common transport vehicles mostly use this fuel.
Below is a summary of the adjustments in the per-litre fuel prices for October 2024:
- Unleaded 95 petrol (diesel) — decrease of R1.14
- Unleaded 93 petrol (diesel) — decrease of R1.06
- Diesel 50ppm (wholesale) — decrease of R1.14
- Diesel 500ppm (wholesale) — decrease of R1.12
- Illuminating paraffin (wholesale) — decrease of R1.11
The CEF explained that the average international product prices for petrol, diesel, and illuminating paraffin had decreased during the period under review.
The international products include crude oil and refined petroleum bought in US dollars from overseas.
According to Trading Economics, the average price of a barrel of Brent Crude oil has declined by 7.68% between August and September 2024. That contributed the biggest part of the decreases.
The rand’s recent strong performance against the dollar has also contributed to around a fifth of the reductions.
According to the CEF, the average dollar-to-rand exchange rate for the period under review from 30 August 2024 to 26 September 2024 was R17.67 compared with R18.06 during the previous period.
“This led to a lower contribution to the Basic Fuel Prices on petrol, diesel and illuminating paraffin by 21.91 c/ℓ, 22.33 c/ℓ, 22.44c/ℓ respectively,” the CEF stated.
The table below compares the old and new prices of petrol and diesel in South Africa.
| Fuel type | September 2024 | October 2024 |
|---|---|---|
| 95 unleaded petrol — inland | R22.19 | R21.05 |
| 95 unleaded petrol — coastal | R21.40 | R20.26 |
| 93 unleaded petrol — inland | R21.79 | R20.73 |
| 93 unleaded petrol — coastal (not frequently sold) | R21.00 | R19.94 |
Typical tank refill and average monthly savings
While R1 might not immediately sound like a significant difference, it does add up to a substantial saving when filling up an entire petrol tank or considering South African motorists’ average monthly fuel consumption.
The typical tank of 45 litres (ℓ) found in hatchbacks, small sedans, and crossovers, will cost R51.30 less to fill with unleaded 95 petrol.
Mid-sized vehicles with 60ℓ tanks — including premium sedans and SUVs — will pay R68.40 less for a full refill, while large bakkies and SUVs with 80ℓ tanks will save R91.20.
According to Numbeo, the average South African commuter travels roughly 44km per day, working out 1,320km per month.
A highly efficient petrol car with a consumption of 5.0ℓ/100km will consume 66 litres per month covering that distance, which means its driver will save R75.24 per month if they use unleaded 95.
The savings are likely to be much higher, as the International Energy Agency estimates that the average mileage of passenger cars in South Africa 7.4ℓ/100km.
That means the average South African commuter would consume 97.68ℓ during a month.
With the new price of unleaded 95, they will be saving R111.35 in a month.
The first table below shows how much less motorists will pay per refuel from October 2024, with three common tank sizes listed.
The second table shows the monthly fuel expenditure savings for the average South African driver of a petrol car.
It should be noted although we only calculated the totals using inland prices, the differences and savings will be the same on the coast.
Savings per tank
| Tank size | September 2024 cost | October 2024 cost | Price per tank difference |
|---|---|---|---|
| Unleaded 95 — Inland | |||
| 45ℓ | R998.55 | R947.25 | -R51.30 |
| 60ℓ | R1,331.40 | R1,263.00 | -R68.40 |
| 80ℓ | R1,775.20 | R1,684.00 | -R91.20 |
| Unleaded 93 — Inland | |||
| 45ℓ | R980.55 | R933.30 | -R47.70 |
| 60ℓ | R1,307.40 | R1,244.40 | -R63.60 |
| 80ℓ | R1,743.20 | R1,659. | -R84.80 |
Average monthly savings with 44km daily commute
| Consumption | Litres consumed per month | September 2024 cost | October 2024 cost | Monthly saving |
|---|---|---|---|---|
| Highly efficient — 5.0ℓ/100km | 66ℓ | R1,464.54 | R1,389.30 | R75.24 |
| IEA average — 7.4ℓ/100km | 98ℓ | R2,174.62 | R2,062.90 | R111.72 |
| Fuel thirsty — 10ℓ/100km | 132ℓ | R2,929.08 | R2,778.60 | R150.48 |
Loading ...