RELIEF AT PETROL STATIONS AROUND THE CORNER

Fuel prices have reached record highs this year and it seems that there is, finally, a second round of relief up ahead for motorists in South Africa.

The Central Energy Fund recently announced that the current strong over-recovery on petrol could lead to price decreases of around R1.34 for 95 unleaded petrol and R1.25 for 93 unleaded.

Although the relief won’t be as much for diesel, a cut of between R1.07 (500ppm) and R1.13 (50ppm) is still expected.

This could mean that petrol prices will reach their lowest levels since January 2022 when 95 unleaded sells for around R20.06 per litre at the coast and R20.85 in Gauteng.

IOL reports that the usual disclaimer applies here, as the outlook could still change significantly between now and month-end, particularly given the volatility we’ve seen with international oil prices this year amid conflicts in the Middle East.

The price drop is expected to take effect during the first week of October.

Image credit: The Witness