Mid-month data from the Central Energy Fund points to another petrol price increase in September; however, the price of diesel is forecast to come down.
The CEF data shows a slight under-recovery for both petrol grades, pointing to a 2 to 7 cents per litre hike, while diesel prices show an over-recovery of around 12 cents per litre.
- Petrol 95: increase of 7 cents per litre;
- Petrol 93: increase of 2 cents per litre;
- Diesel 0.05%: decrease of 12 cents per litre;
- Diesel 0.005%: decrease of 12 cents per litre;
- Illuminating Paraffin: decrease of 7 cents per litre.
While the mid-month data serves as a snapshot, the Department of Energy makes adjustments based on a review of the full period. Furthermore, the outlook can change significantly before month-end.
Prices are affected by two main components – the rand/dollar exchange rate and changes to international petroleum product costs, largely driven by oil prices.- BusinessTech