Mid-month petrol price analysis by the Automobile Association (AA) of South Africa shows that motorists are in for another substantial price drop for petrol in September.
Ongoing rand strength has out-muscled a climbing oil price, raising the possibility of substantial fuel price cuts this month end, the AA said, looking at the latest data out from the Central Energy Fund.
At current rates, petrol is slated for a reduction of 69 cents per litre, while the wholesale price of diesel could be coming down by as much as 94 cents per litre, the group said.
Illuminating paraffin is showing a potential drop of 92 cents.
“The fuel price for September will depend on whether the rand can continue to counter upward trends in international petroleum prices,” the AA said.
“Any flattening out of the rand’s gains would be negative for the fuel price, but there would have to be a substantial reversal for the current picture to be spoiled before the end of August,” the group said.
In August, motorists got to enjoy a 99 cent drop in the petrol price, moving (inland) 95 grade petrol to a price of R12.38 a litre, with wholesale diesel moving to R10.96 a litre.
With the current projections at current rates, this is what the prices could be for September.
