Petrol and diesel price cut of more than R1.00 NEXT WEEK

With well under a week to go, the data looks promising that more good news awaits South Africa’s motorists in early October 2024.

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

And more good news could be on the way in under a week from now.

Below, the latest projections as received by The South African website from the Central Energy Fund (CEF), effective Thursday, 26 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 106 cents is expected for petrol 93 octane motorists and a decrease of 114 cents for 95 users.

Meanwhile, diesel motorists would see something between a 111 and 114 cents per litre decrease.

Finally, illuminating paraffin is expected to decrease by 110 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 $71.34 a barrel.

Exchange rate

At the time of publishing the rand/dollar exchange rate is R17.20/$.

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):