Petrol price to drop by R2.04/l from Wednesday

South Africa is in line for significant price cuts in all grades of fuel from Wednesday, according to the Central Energy Fund’s (CEF) September fuel price adjustment.

Motorists will pay R2.04 less per litre of both grades of petrol, while at wholesale level a litre of 0.05% and 0.005% sulphur diesel will be 56 cents and 46 cents cheaper, respectively. Illuminating paraffin will decrease by 82 cents a litre.

The latest fuel price cuts will come as much-needed relief for many motorists as well as consumers, who in the last few months have been buckling under pressure amid spiralling fuel prices and a rising cost of living.

 According to the CEF, the fuel price drop is justified by a drop in international fuel prices as well as a stronger rand against the US dollar between the end of July and the start of September.

“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,” CEF said in a statement.

“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.”

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Petrol and diesel could fall by over R2 a litre in September