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We Will Take What We Can Get

Motorists can look forward to some relief at the pumps in the first week of September.

According to month-end data from the Central Energy Fund (CEF), both petrol and diesel prices are set to come down on Wednesday, 3 September.

The drop will be small for petrol, but diesel drivers will see a much bigger cut. Current projections point to:

  1. Petrol 93: down 12 cents per litre
  2. Petrol 95: down 4 cents per litre
  3. Diesel (0.05% wholesale): down 55 cents per litre
  4. Diesel (0.005% wholesale): down 55 cents per litre
  5. Illuminating paraffin: down 37 cents per litre

The good news comes from a mix of a firmer rand and softer oil prices. While the rand moved sideways in the last week of August, it still managed to support the over-recovery that made these cuts possible. Oil prices, which have slipped to around $68 a barrel, also played a big role, especially for diesel.

‘The good news comes from a mix of a firmer rand and softer oil prices’

Although petrol drivers will only see a few cents shaved off, diesel users are benefiting more because prices had been under pressure in previous months. This recovery should bring some balance back to the market.

The Department of Mineral Resources and Energy will confirm the official changes before they kick in.