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AA predicts major fuel price decrease in Sept

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The Automobile Association (AA) has forecast significant decreases to fuel prices across the board.

Engen service station. Image: CapeTalk

JOHANNESBURG – Motorists may see considerable relief at the pumps in the first week of next month.

The Automobile Association has forecast significant decreases to fuel prices across the board. This is based on current unaudited mid-month data from the Central Energy Fund.

According to the data, 95 octane is expected to drop by around R2.60 a litre while 93 may decrease by around R2.45. The wholesale price of diesel is expected to decrease by around R2.30 and the price of illuminating paraffin by almost R2.00 a litre.

The Automobile Association said the scenario is different this time, as there are no refunds to the general fuel levy, as happened previously.

It said the main drivers behind the decreases are a strengthening rand and lower international oil prices. With these expected decreases, the price of 95 octane will dip below R23.00 a litre and the price of 93 will cost just more than R22.50c.

But it warns that this is only mid-month data and that the picture may change come month-end, before the adjustments for September are made.

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