August Diesel Price Forecast: Here’s What South African Motorists Can Expect

South African motorists are closely watching the August diesel price forecast, with the latest mid-month projections suggesting diesel prices could remain largely unchanged or increase slightly, while petrol is still expected to drop by more than R1 per litre.

According to mid-July data from the Central Energy Fund, 50ppm diesel is expected to remain stable, while 500ppm diesel could increase by around 24 cents per litre. Petrol motorists, however, are still on track to benefit from a significant price cut in early August.

Expected fuel prices for August

The latest inland fuel price projections indicate:

• Diesel 50ppm: No significant change (expected price: about R25.16 per litre)
• Diesel 500ppm: Increase of approximately 24 cents per litre (expected price: about R25.02 per litre)
• Petrol 93: Decrease of approximately R1.07 per litre (expected price: about R24.99 per litre)
• Petrol 95: Decrease of approximately R1.03 per litre (expected price: about R25.07 per litre)

Why the August diesel forecast has changed

While diesel prices are expected to remain relatively stable, the outlook has shifted over the past few weeks.

The projected petrol price cuts have also narrowed significantly after a 22% surge in Brent crude oil prices, which climbed from around $72 to $88 per barrel, combined with continued volatility in the rand.

The sharp rise in international oil prices has offset some of the earlier over-recoveries that had pointed to even larger fuel price reductions.

Petrol drivers still expected to benefit

Despite the changing market conditions, petrol motorists are still expected to receive welcome relief at the pumps, with both grades of petrol forecast to decrease by just over R1 per litre.

Diesel users, meanwhile, are likely to see little movement in 50ppm diesel prices, although motorists using 500ppm diesel may face a modest increase if the current projections hold.

Motorists should note that these are early projections based on mid-July data from the Central Energy Fund and remain subject to change before the Department of Mineral and Petroleum Resources announces the official August fuel price adjustment.

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