Big petrol price drop may be coming
The South African petrol price could be set for a sizable cut next in September, after data by the Central Energy Fund (CEF) showed a current over-recovery of almost 70c for 95 octane fuel.
On Monday (25 August), the CEF noted that lower international product prices – coupled with the slight weakening of the rand against the dollar – pointed an over recovery of 68.3 cents per litre of petrol.
Provided international prices and the current rand/dollar exchange remains stable over the next week, this means petrol prices could see its biggest drop in some time.
Lower octane fuel (93 ULP) has an over recovery of 62.7 cents, while diesel has an over-recovery of 19.7 cents and 19.9 cents for 0.05% and 0.005% grade, respectively.
Illuminating paraffin has an over-recovery of 18.1 cents.
Earlier in August, the Department of Energy left the price of retail petrol unchanged at R14.33.
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