South African motorists can look forward to a slight decrease in petrol prices this week, with even greater relief for diesel drivers, as indicated by the latest month-end data from the Central Energy Fund (CEF).
This comes as the Department of Petroleum and Mineral Resources is set to announce the official fuel price changes for September ahead of their implementation on Wednesday, following an over-recovery recorded.
The figures show that petrol prices will decrease by 4 to 12 cents per litre, while diesel drivers can expect a more substantial cut of 55 cents per litre for both wholesale grades. Additionally, illuminating paraffin will see a decrease of 37 cents per litre.
The reported figures as per BusinessTech are as follows:
- Petrol 93: decrease of 12 cents per litre
- Petrol 95: decrease of 4 cents per litre
- Diesel 0.05% (wholesale): decrease of 55 cents per litre
- Diesel 0.005% (wholesale): decrease of 55 cents per litre
- Illuminating paraffin: decrease of 37 cents per litre
While the reductions in petrol prices may seem modest, they signify a shift from the stagnant pricing observed earlier in the month. Notably, the South African rand has shown resilience against the US dollar, transitioning from contributing to an under-recovery at the month’s outset to bolstering an over-recovery by the end.
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The economic landscape remains complex, as local inflation and other internal issues had a limited impact on the rand’s performance.
Remarkably, even amid challenges such as the recently imposed 30% tariff on South African exports to the United States, the rand’s muted response underscores its unexpected resilience.
This reduction in oil prices has eased some pressure on diesel, which previously experienced price hikes due to high seasonal demand.
Although diesel prices remain sensitive to supply constraints, the recovery seen in August has been considerable, leading to the reported decreases.
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Picture: Gallo Images / Misha Jordaan
