Fuel prices across the broad are set to decrease in September for the fourth consecutive month this year.
Unaudited data from the Central Energy Fund (CEF) shows that 95ULP is set to drop by around 94 cents/litre, and 93ULP by around 86c/l.
The wholesale price of diesel is expected to decrease by around 76c/l, while the cost of illuminating paraffin will drop by almost R1.01c/l.
“The reason for this welcome news is the perfect combination of a strengthening Rand/US Dollar exchange rate since the middle of August, and significantly lower international oil prices which dipped around mid-August and increased the over recovery on the fuel prices in the period under review,” said the AA.
The Association added that if the predicted decreases materialise, the cumulative impact of the last four decreases is substantial.
“Considering, for instance, ULP93 Inland, the decreases amount to around R2.44/l which in total will bring about a saving of around R122 on a 50/l petrol tank.”
In addition to the predicted fuel price decreases for September, consumers should expect the fuel retail margin increase that will come into effect next month.
The Minister of Mineral and Petroleum Resources, Gwede Mantashe, has approved an increase of around 5c/l to the fuel retail margin which kicks in with the official adjustment for September.
“This may affect the total decrease amounts but only marginally.”
The official announcement by the Department of Mineral and Petroleum Resources (DMPR) for fuel pricing for September is expected on Monday, September 2 – ahead of the adjustment at midnight next Wednesday.
HAVE YOUR SAY
Like the South Coast Herald’s Facebook page, follow us on Twitter and Instagram
