Petrol price

After the price cuts come into effect on Wednesday, September 7, a litre of 95 unleaded petrol will cost you R22.73 per litre at the coast and R23.38 per litre ...

This appears to be due to a negative balance in the Slate Levy of over R13 billion, according to the energy department. While the reductions will most certainly be welcomed by motorists, fuel prices are still extremely high, historically speaking. The Slate Levy was designed to reimburse fuel companies for the imbalances that take place due to the monthly average that determines the fuel price structure.

While the fuel price drop is welcomed, transport associations want to see it reduced further to provide relief for motorists and businesses.

"Just like any other business, this fuel drop should not raise hopes to consumers that taxi fares will also drop. “With fuel prices dropping, there should also be a boost for the local tourism industry to reboot. “The fuel price structure needs a serious revision. “Although we are expecting fuel to be cheaper in September, we remain concerned about the overall high prices which impact on all consumers. CEO of the Road Freight Association, Gavin Kelly, said the decrease will have a tremendous positive effect on transport costs and supply chains. "Nevertheless, any decrease to fuel prices is good news.

Refilwe Moloto spoke with Peter Morgan CEO at the Liquid Fuel Wholesalers Association about the latest fuel price decrease.

They will say that the demand for diesel is much higher.Peter Morgan - CEO at the Liquid Fuel Wholesalers Association The energy ministry announced on Monday that both grades of petrol were set to decrease by R2.04 per litre, a significant saving. The reduction marks a welcome reprieve for average South Africans who may be feeling like they've been held hostage at the pumps.

South Africa is in line for significant price cuts in all major fuel types from Wednesday, according to the Central Energy Fund's (CEF) September fuel price ...

That’s if the rand stays at current levels or weakens further, and if crude oil prices surge again. “The average rand/US dollar exchange rate for the period 29 July to 01 September 2022 was 16.7016 compared to 16.8719 during the previous period. Illuminating paraffin will decrease by 82 cents a litre. According to the CEF, the fuel price drop is justified by a drop in international fuel prices as well as a stronger rand compared to the US dollar between the end of July and the start of September. The CEF touted a bigger decrease of as much as R2.60/l for 95 octane petrol in mid-August, and over R2/l decreases in both 0.05% and 0.005% diesel, but the rand gave up some of its gains against the US dollar since then. This led to a lower contribution to the basic fuel prices on petrol, diesel and illuminating paraffin by 12.97 c/l, 15.63 c/l and 15.90 c/l respectively,” CEF said in a statement.

South Africa's gasoline price will fall by the most in two years, increasing the chances that inflation may be near a peak.