Latest news with #CEF
IOL News
a day ago
- Automotive
- IOL News
Petrol price outlook improves, but bad news for bakkie drivers as diesel increase looms
The fuel price outlook for August is a mixed bag, with petrol prices predicted to decrease and diesel costs set for a significant increase. Data from our friends over at the Central Energy Fund (CEF) shows an over-recovery for petrol that points to potential decreases of 30 cents for 95 Unleaded and 34 cents for 93 Unleaded. Diesel, which powers most bakkies and some SUVs such as the Toyota Fortuner, will see increases in the region of 62 cents for 500ppm and 64 cents for 50ppm. The anticipated August fuel price adjustment is primarily due to movements in international product prices, while a slightly stronger rand is providing relief of around six cents. But why is petrol going down and diesel up? These prices are determined by international demand patterns, which usually see diesel prices spiking in the northern hemisphere's summer and winter periods. In the summer months, higher diesel prices can be observed due to increased travel and economic activity. ALSO READ: How South Africa's fuel taxes affect daily life The past month has seen relatively stable international oil prices, with Brent Crude trading in the range between $67 and $70 per barrel, after averaging $69 during the previous review period. July's fuel price increase was the first in five months, with petrol rising by between 52 cents and 55 cents, and diesel going up by 82 cents to 84 cents. On the upside, petrol is only marginally more expensive than it was at the beginning of this year, when 95 ULP cost R20.80 at the coast. The predicted decrease for August will bring prices back into line with where they were in January 2025. IOL Motoring
The South African
3 days ago
- Business
- The South African
Worrying signs for fuel prices in South Africa in August 2025
The latest petrol and diesel price projections show that there's going to be mixed news at the pumps early next month. While the petrol price is set to drop, the diesel price will hit South Africa's motorists harder in the pocket should market conditions remain the same for the next week. In recent days the rand has weakened while the brent crude price has risen – not the recipe for good news for motorists. Below, the latest projections as received by The South African website from the Central Energy Fund (CEF), effective Monday, 28 July. FUEL PRICE CHANGE Petrol 93 decrease of 35 cents Petrol 95 decrease of 30 cents Diesel 0.05% increase of 65 cents Diesel 0.005% increase of 63 cents Illuminating Paraffin increase of 29 cents If the market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate fluctuating and the oil price ever changing – a decrease of 35 cents is expected for petrol 93 octane motorists and a decrease of 30 cents for 95 users. Meanwhile, diesel motorists would see something between a 63 and 65 cents per litre increase. Finally, illuminating paraffin is expected to rise by 29 cents in price. FUEL PRICE IN SOUTH AFRICA IMPACTED BY TWO MAIN FACTORS: 1. The international price of petroleum products, driven mainly by oil prices 2. The rand/dollar exchange rate used in the purchase of these products Oil price At the time of publishing the brent crude oil price is $70.21 a barrel. Exchange rate At the time of publishing the rand/dollar exchange rate is R17.95/$. The final overall price changes for both petrol and diesel will be confirmed early next month with the new prices taking effect at midnight on Tuesday, 5 August 2025. Go easy on the accelerator until then, Mzansi. INLAND July Petrol 93 R21.79 Petrol 95 R21.87 Diesel 0.05% R19.35 Diesel 0.005% R19.41 Illuminating Paraffin R13.16 COASTAL July Petrol 93 R21.00 Petrol 95 R21.04 Diesel 0.05% R18.52 Diesel 0.005% R18.65 Illuminating Paraffin R12.14 Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
The South African
4 days ago
- Business
- The South African
Here's the good petrol and bad diesel price news for August
The latest petrol and diesel price projections show that there's going to be mixed news at the pumps early next month. While the petrol price is set to drop, the diesel price will hit South Africa's motorists harder in the pocket should market conditions remain the same for the next week. Below, the latest projections as received by The South African website from the Central Energy Fund (CEF), effective Friday, 25 July. FUEL PRICE CHANGE Petrol 93 decrease of 34 cents Petrol 95 decrease of 30 cents Diesel 0.05% increase of 65 cents Diesel 0.005% increase of 63 cents Illuminating Paraffin increase of 29 cents If the market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate fluctuating and the oil price ever changing – a decrease of 34 cents is expected for petrol 93 octane motorists and a decrease of 30 cents for 95 users. Meanwhile, diesel motorists would see something between a 63 and 65 cents per litre increase. Finally, illuminating paraffin is expected to rise by 29 cents in price. FUEL PRICE IN SOUTH AFRICA IMPACTED BY TWO MAIN FACTORS: 1. The international price of petroleum products, driven mainly by oil prices 2. The rand/dollar exchange rate used in the purchase of these products Oil price At the time of publishing the brent crude oil price is $68.71 a barrel. Exchange rate At the time of publishing the rand/dollar exchange rate is R17.83/$. The final overall price changes for both petrol and diesel will be confirmed early next month with the new prices taking effect at midnight on Tuesday, 5 August 2025. Go easy on the accelerator until then, Mzansi. INLAND July Petrol 93 R21.79 Petrol 95 R21.87 Diesel 0.05% R19.35 Diesel 0.005% R19.41 Illuminating Paraffin R13.16 COASTAL July Petrol 93 R21.00 Petrol 95 R21.04 Diesel 0.05% R18.52 Diesel 0.005% R18.65 Illuminating Paraffin R12.14 Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
The South African
24-07-2025
- Business
- The South African
Great news for petrol prices in South Africa next month
The latest petrol and diesel price projections show that there's going to be mixed news at the pumps early next month. While the petrol price is set to drop, the diesel price will hit South Africa's motorists harder in the pocket should market conditions remain the same for the next week and a half. Below, the latest projections as received by The South African website from the Central Energy Fund (CEF), effective Wednesday, 23 July. FUEL PRICE CHANGE Petrol 93 decrease of 32 cents Petrol 95 decrease of 28 cents Diesel 0.05% increase of 66 cents Diesel 0.005% increase of 64 cents Illuminating Paraffin increase of 30 cents If the market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate fluctuating and the oil price ever changing – a decrease of 32 cents is expected for petrol 93 octane motorists and a decrease of 28 cents for 95 users. Meanwhile, diesel motorists would see something between a 64 and 66 cents per litre increase. Finally, illuminating paraffin is expected to rise by 30 cents in price. FUEL PRICE IN SOUTH AFRICA IMPACTED BY TWO MAIN FACTORS: 1. The international price of petroleum products, driven mainly by oil prices 2. The rand/dollar exchange rate used in the purchase of these products Oil price At the time of publishing the brent crude oil price is $69.06 a barrel. Exchange rate At the time of publishing the rand/dollar exchange rate is R17.60/$. The final overall price changes for both petrol and diesel will be confirmed early next month with the new prices taking effect at midnight on Tuesday, 5 August 2025. Go easy on the accelerator until then, Mzansi. INLAND July Petrol 93 R21.79 Petrol 95 R21.87 Diesel 0.05% R19.35 Diesel 0.005% R19.41 Illuminating Paraffin R13.16 COASTAL July Petrol 93 R21.00 Petrol 95 R21.04 Diesel 0.05% R18.52 Diesel 0.005% R18.65 Illuminating Paraffin R12.14 Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
Fibre2Fashion
23-07-2025
- Business
- Fibre2Fashion
EU allocates $3.27 bn to 94 transport projects under CEF
The European Commission has allocated nearly €2.8 billion (~$3.27 billion) in EU grants to 94 transport projects under the Connecting Europe Facility (CEF). This investment will focus on modernising railways, inland waterways, and maritime routes across the trans-European transport network (TEN-T), enhancing connectivity and competitiveness within the EU. The European Commission has allocated €2.8 billion (~$3.27 billion) in grants to 94 transport projects under CEF. The funding will modernise railways, waterways, and maritime routes, focusing on sustainability and resilience. Key projects include Rail Baltica, high-speed rail in Czechia and Poland, and enhanced road safety and air traffic management. Selection will be formalised by October 2025. Rail transport will receive the largest share, with 77 per cent of the total funding directed towards infrastructure upgrades, including Rail Baltica in the Baltic region, high-speed rail development in Czechia and Poland, and the European Rail Traffic Management System (ERTMS) across 11 Member States, European Commission said in a release. Maritime and inland waterway projects will focus on reducing emissions and improving resilience, including the installation of shore-side electricity at ports and digital traffic management systems. Additional investments will enhance road safety, air traffic management, urban mobility, and bolster transport links to Ukraine. The projects are expected to improve regional trade, strengthen infrastructure resilience, and contribute to the EU's green transition. The Commission will formalise the selection by October 2025. Fibre2Fashion News Desk (HU)
