Photo: Unsplash
Photo: Unsplash
After experiencing a hat-trick of petrol price increases throughout winter, South Africa looks likely to see fuel costs decrease in the month of September. Although the forecast changes aren’t exactly groundbreaking, it at least brings some brief respite for the motorists of Mzansi.
HOW MUCH WILL THE PETROL PRICE INCREASE BY NEXT MONTH?
According to data published by the Central Energy Fund (CEF), we can expect to see nine-cents-per-litre shaved off of the official petrol price. This will be accompanied by a similar drop for diesel costs, which are likely to go down by seven-cents-per-litre. At the current rate, illuminating paraffin would also be 12 cents cheaper.
WHY FUEL IS GETTING CHEAPER IN SEPTEMBER
The global oil market has recovered significantly from its crash at the beginning of April. However, after months of sustained increases, the past few weeks have seen prices stablise. That’s had a big say on how the petrol price in South Africa will be decided in September – and its even possible that no changes could be made at all.
However, the indicators suggest that the odds are in our favour as consumers. Things could have been so much better if the Rand had performed well against the US dollar, but a recent mini-slump means that any decreases at the pumps will be modest at best – Mzansi is heavily reliant on the performance of the international crude market (and ZAR’s value against the American currency) to determine monthly fuel prices.
THE FORECAST PETROL PRICE FOR SEPTEMBER 2020
Taking these forecasts and first estimates into account, here’s what you can expect to pay for fuel (price-per-litre) from the first week of September onwards. However, we have to stress that these mid-month estimates are liable to change by the time the Department of Energy set next month’s costs in stone.
COASTAL
- Petrol: R14.38
- Diesel: R12.81
INLAND
- Petrol: R15.08
- Diesel: R13.41
