Recent data reveals significant petrol and diesel price reductions for September

A recent analysis of price projections for South African motorists in September 2024 suggests that more positive news could be on the horizon for petrol and diesel vehicle owners.

NOTE: This is an updated article with the latest fuel projections

Both petrol and diesel are forecast to see massive decreases at the pumps early next month.

As reported by The South African website, there was welcome news earlier this month following a price decrease for both petrol and diesel.

Below, the latest projections as received by The South African website from the Central Energy Fund (CEF), effective Tuesday, 13 August.

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 61 cents is expected for petrol 93 octane motorists and a decrease of 66 cents for 95 users.

Meanwhile, diesel motorists would see something between a 55 and 78 cents per litre decrease.

Finally, illuminating paraffin is expected to decrease by 79 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 $80.68 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R18.07/$.

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, 3 September.

Go easy on the accelerator until then, Mzansi.

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