Early signs of major petrol and diesel price cuts in October 2024

Initial signs suggest that South Africa’s motorists can expect more positive news in October.

As reported by The South African website, petrol and diesel vehicle owners in Mzansi enjoyed a big cut in the cost of fuel from midnight on Tuesday, 3 September.

And more good news could be on the way next month!

Below, the latest projections as received by The South African website from the Central Energy Fund (CEF), effective Wednesday, 4 September.

If the market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate ever fluctuating and the oil price changing – a decrease of 131 cents is expected for petrol 93 octane motorists and a decrease of 139 cents for 95 users.

Meanwhile, diesel motorists would see something between a 112 and 125 cents per litre decrease.

Finally, illuminating paraffin is expected to decrease by 118 cents.

FUEL PRICE IN SOUTH AFRICA IMPACTED BY TWO MAIN FACTORS:

1. The international price of petroleum products, driven mainly by oil prices

2. The rand/dollar exchange rate used in the purchase of these products

Oil price

At the time of publishing the brent crude oil price is $72.99 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R17.85/$.

The final overall price changes for both petrol and diesel will be confirmed in the weeks ahead with the new prices coming into effect at midnight on Tuesday, 1 October.

Go easy on the accelerator until then, Mzansi.

The current September 2024 petrol and diesel prices (Inland and Coastal):