Petrol, diesel price forecast for September: Low oil, strong rand offers hope
The mid-month look at the price projections for SA's motorists for September 2024 shows that good news lies ahead for vehicle owners.
The mid-month look at the price projections for South Africa’s motorists for September 2024 shows that good news may lie ahead 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.
Below, the latest projections as received by The South African website from the Central Energy Fund (CEF), effective Monday, 19 August.
| FUEL | PRICE CHANGE |
| Petrol 93 | decrease of 68 cents |
| Petrol 95 | decrease of 74 cents |
| Diesel 0.05% | decrease of 57 cents |
| Diesel 0.005% | decrease of 82 cents |
| Illuminating Paraffin | decrease of 83 cents |
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 68 cents is expected for petrol 93 octane motorists and a decrease of 74 cents for 95 users.
Meanwhile, diesel motorists would see something between a 57 and 82 cents per litre decrease.
Finally, illuminating paraffin is expected to decrease by 83 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 $77.15 a barrel.
Exchange rate
At the time of publishing the rand/dollar exchange rate is R17.73/$.
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):
| INLAND | August |
| Petrol 93 | R22.71 |
| Petrol 95 | R23.11 |
| Diesel 0.05% | R20.38 |
| Diesel 0.005% | R20.74 |
| Illuminating Paraffin | R14.80 |
| COASTAL | August |
| Petrol 93 | R21.92 |
| Petrol 95 | R22.32 |
| Diesel 0.05% | R19.59 |
| Diesel 0.005% | R19.98 |
| Illuminating Paraffin | R13.80 |
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