How much you’ll save with the this month’s diesel price drop

Diesel users have finally seen a reprieve this month with a reduction in the cost of this fuel, which has risen at an alarming rate over the course of the year.

In January, a litre of diesel would at most set you back by R17.28, but as of November the same litre costs R25.75.

While fuel prices are still outrageously high, diesel thankfully saw a drop this month of around R1.50, with inland prices now sitting at R23.92 per litre for diesel 0.05% and R24.23 for diesel 0.005%.

Petrol users were not as lucky, though, with prices increasing by 59 cents for a December total of R23.16 and R23.46 for petrol 93 and 95 respectively.

What you’ll save

For those driving a diesel car in South Africa, this is how much money you can expect to save on fuel, based on your tank size:

Factors currently affecting the price of fuel

Diesel drivers have had a particularly rough time this year, with sizeable fuel increases month after month.

There are a number of factors affecting fuel prices both domestically and internationally, starting with the Russia-Ukraine conflict, which has had a big impact on global oil supplies as Russia is a key producer.

This in turn has created a supply and demand issue, as several markets around the world are currently trying to stockpile diesel while global output has declined.

Europe is currently facing an energy crisis, and in South Africa, Eskom has been using millions of litres of diesel over the course of the year to mitigate the record levels of load-shedding.

The recent reduction in diesel prices, however, is attributed to another Covid outbreak in China shutting down several economic hubs, as well as an improvement in the Rand/US dollar exchange rate.