Spring will bring some relief to motorists as petrol price predictions appear to indicate a cost reduction at the pumps in September.
Price drop expected in September – Central Energy Fund
According to calculations made by the Central Energy Fund (CEF), petrol and diesel prices will most likely see a decrease in September.
Part of the reason behind this assessment is owed to recent movements in global oil prices. Added to August’s price coolings which, as reported by Fin24, were owed to the US central bank’s plans to curb oil spending, Hurricane Ida, set to make landfall in New Orleans, Louisiana, also contributed to the instability in Brent crude oil markets.
Daily fluctuations may alter the final petrol price, as the Organization of the Petroleum Exporting Countries (OPEC) prepares for a crucial sit-down on Wednesday to discuss a scheduled 400 000 increase in its oil output.
Petrol price: How much a full tank may cost in September
In South Africa, petrol prices are not only dictated by the global oil market, but by the value of the rand against the US dollar.
On the first Wednesday of every month, the Department of Mineral Resources and Energy makes adjustments to the month’s petrol price and if we are to take CEF’s calculations as at Friday 26 August 2021 to account, this is how much the petrol price will be reduced by:
- 95 Unleaded: -11c
- 93 Unleaded: -15c
- Diesel: -24c
- Paraffin: -16c
This is how much it may cost to fill up your tank, per litre, in September 2021: