September could bring another significant fuel price cut for motorists, and it may be even bigger than the August price reduction.
Although it’s still too early in the month to accurately predict September’s fuel prices, preliminary data supplied by the Central Energy Fund (CEF) is showing a strong over-recovery for both petrol and diesel, which would translate into significant fuel price reductions if the currency and oil prices remain near current levels until the end of August.
The latest daily snapshot from the CEF shows an over-recovery of more than R2.30 for both 95 Unleaded petrol and 500ppm diesel and if current trends persist until month-end, it would bring the price of 95 Unleaded down to R22.47 a litre.