Expected petrol price hike for September

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

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