The Central Energy Fund (CEF) has released its mid-month data on the predicted price of fuel for September, and the current estimated price of fuel with leave drivers heaving a collective sigh of disappointment.
The country has experienced a petrol price hike for six out of the year’s eight months, while diesel has increased over the course of seven months.
Currently, the CEF predicts that 95-grade petrol will increase by 10 cents per litre, while the price of diesel is expected to rise by a slightly steeper 12 cents.
The price of 93-grade petrol may decrease by 2 cents per litre, as there have been positive movements in the international price of fuel. The main cause of this is the changes in the rand/dollar exchange rate, as well as the changing international price of fuel.
Thus far into August, the international price of fuel is in South Africa’s favour as it has contributed to a 34 cents – 45 cents per litre drop in prices. This positive changes, however, have nearly been completely offset by the weakening rand.