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What to expect from petrol and diesel prices in 2024

Sikonathi Mantshantsha

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The start of 2024 could bring considerable fuel price relief, but it may not last.

The price of 95 unleaded petrol in Gauteng is currently R23.25 a litre, from R23.46 a year ago. In October this year it spiked to R25.68 - still more than a rand cheaper than the record price of R26.74 reached in July 2022, after the invasion of Ukraine curbed Russian oil supplies. The current forecast is that local petrol prices will be lowered by around 63c in the first week of January.

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