Motorists can expect “significant decreases” in fuel prices across the board in September, based on current unaudited mid-month data released by the Central Energy Fund (CEF).
The Automobile Association (AA) said in a statement on Monday that the expected decreases would not be affected by any refunds to the General Fuel Levy (GFL), so they should be substantial.
“The decreases in fuel prices in August were offset somewhat by the 75c/l for petrol and diesel which were returned to the GFL. But the decreases expected in September don’t have that problem,” the AA said.
According to the latest data, 95ULP is expected to drop by around R2.60/l, and 93ULP by around R2.45/l. The wholesale price of diesel is expected to decrease by around R2.30/l and the price of illuminating paraffin by almost R2.00/l.
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,” the AA said.
The expected decreases will see the price of 95ULP dip below R23/l and the price of 93ULP will cost just more than R22.50/l.
“While fuel is still more expensive now than it was at the beginning of the year, these forecast decreases do offer some relief,” the AA said.
The association added that while these figures were promising, it must be remembered that this is only mid-month data and that the picture may change come month-end before the adjustments for September are made.
