After months of increases, motorists may soon breathe a sigh of relief as September’s fuel prices are predicted to show a slight drop.
Mid-month estimates from the Central Energy Fund (CEF) suggest the country can expect a small drop of nine cents per litre in the official petrol 95 price. Diesel is also predicted to decrease in price by seven cents per litre, and iluminating paraffin will likely be 12 cents cheaper.
These figures are subject to change by the end of the month when the Department of Energy releases the set costs.
As the global oil market continues to recover from its crash in April, petrol prices are beginning to stabilise.
“Over the past six weeks, oil has traded in a fairly narrow band, indicating that a more reliable plateau has been reached, absent any unexpected shocks,” the Automobile Association told IOL.
“This spells trouble for South African fuel users if it continues, but for now, the oil price is the stronger of the two forces. If this picture retains stability in the second half of the month, we expect only modest changes to the fuel price.”