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Early data shows an even bigger fuel price cut could happen in September

VAAL TRIANGLE - Vaal Triangle and other South African motorists could see another significant fuel price cut in September, which 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, early month 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, we should be looking at price decreases in that region. However, IOL reports these fuel price cuts are far from set in stone. But if a R2.30 petrol price reduction did materialise, it would bring the price of 95 Unleaded down to R23.12 in the inland regions, where 93 Unleaded would be reduced to around R22.69.

PHOTO: (Supplied)

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