Good news for motorists! Fuel price decrease on the cards

Motorists can expect a healthy decrease in fuel prices in September, which will not be mitigated by any refunds to the General Fuel Levy (GFL).

The Automobile Association (AA) stated that the projected figures were based on current unaudited mid-month data from the Central Energy Fund (CEF).

“The decreases to fuel prices in August were offset somewhat by the 75c for petrol and diesel which were returned to the GFL. But the decreases expected in September don’t have that problem,” the AA said in a statement.  

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The compiled date revealed that 95ULP is expected to drop by around R2.60, and 93ULP by around R2.45.

The wholesale price of diesel is expected to decrease by around R2.30 and the price of illuminating paraffin by almost R2.

According to the statement, the main drivers behind the decreases are a strengthening Rand and lower international oil prices.

“The expected decreases are good news for consumers who have been battered and bruised by these prices the past six months. With these expected decreases, the price of 95ULP will dip below R23 and the price of 93ULP will cost just more than R22.50. While fuel is still more expensive now than it was at the beginning of the year, these forecast decreases do offer some relief.”

ALSO READ: Petrol price: AA hopes for more relief in September as fuel levy reduction set to end

In July, the AA welcomed a reduction price but noted the temporary reduction of the general fuel levy is set to end.

The levy was reduced from R3.85 to R2.35 per litre after government cut it down by R1.50 initially for two months between 6 April and 31 May.

Government also extended the temporary reduction from 1 June until 6 July, with the second reprieve of 75 cents per litre coming into effective on 7 July and will end on 2 August.